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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: PaperChase who wrote (62366)	6/15/1999 9:21:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Paperchase, the fact that the bubble has not burst does not invalidate the evidence supporting the case. Every boom created by credit excesses has led to a bust -it is an unavoidable consequence of the excesses engendered during the boom. There are no exceptions in history although the new era bulls would like to believe " it's different this time" . The sad reality is that the excesses are greater this time. Mike

To: PaperChase who wrote (62366)	6/15/1999 11:48:00 AM
From: Skeeter Bug	Respond to of 132070

pc, i think your point is a good one. however, i'm a valuation guy. everyone can buy a toyota corolla for $100k, but i'm still not gonna do it. i left the bay area b/c i would never own a home - even if i could afford it. i was afraid i'd be crowned the greatest fool. i buy cheap (and there is plenty of cheap out there!) in order to try and sell expensive. i can't define a big kahuna, but i do believe that valuations will regress toward the long term mean (though they might stay slightly above it due to special factors - ease of access, etc.). greed will not win in the long run and that is what is driving this market, imho.