Some interesting excerpts from an excellent site:
goldminingoutlook.com
SIR JOHN TELLS IT LIKE IT IS: Sir John Templeton, who is a long-time stock market guru and respected former fund manager, said on Thursday, May 26, 1999 that the U.S. stock market reminded him of Wall Street in 1929 and the 1989 Japanese market. He expects the Dow Jones Industrial Average to drop 40% in the relatively near term, losing 4,500 points. Surprisingly (or maybe not so surprisingly), few of the media picked up these comments.
WORLDWIDE PROSPERITY IS BUILT UPON A HOUSE OF CARDS: Former Federal Reserve Chairman Paul Volcker said on Friday, May 21, 1999: "The fate of the world economy is now totally dependent on the growth of the U.S. economy, which is dependent on the stock market, whose growth is dependent on about 50 stocks, half of which have never reported any earnings."
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