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

To: Mike M2 who wrote (62441)	6/15/1999 6:08:00 PM
From: Peter Singleton	Read Replies (1) \| Respond to of 132070

Mike, that's great stuff. I enjoyed reading it the first time you posted the link a few months back, and it was worth the re-read. One particularly cheery note: <<For both Switzerland and the United Kingdom, the 1929 peak was more in the nature of a double top than a rally within a downtrend. The London stock market was in a secular bear market from 1900 until 1921, andeven though the market rallied strongly in the 1920s, it still failed to overtake the 1900 highs. From a longer term perspective, this recovery is less impressive. The Global Financial Index of British stocks, which uses the FT-A base of April 10, 1962 = 100, recorded a high of 155.61 during the South Sea Bubble in June 1720. It wasn't until July 1968 that the All-Share index finally broke through the old high of 1720. In other words, someone who had bought stocks at the top of the South Sea Bubble would have had to wait 250 years to get their principal back and not suffer a capital loss. Of course, dividends, not capital gains, would have returned shareholders' investment long before 1968, but this should remind those investors that stocks do not always go up.>>

To: Mike M2 who wrote (62441)	6/16/1999 8:54:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Mike, Someone recently asked me about the total amount of home equity loans outstanding because it's not included in the flow of funds debt reports. I'm not sure it was you, but in any event, here's the numbers from today's WSJ. Wayne >>Partly because of all that, the amount in home-equity lines held by commercial banks fell 1.5% to $96.65 billion at the end of 1998, compared with a 15% increase to $98.16 billion in 1997, according to data from the Federal Deposit Insurance Corp.<<

To: Mike M2 who wrote (62441)	6/16/1999 9:57:00 AM
From: Mike M2	Respond to of 132070

To all prudentbear.com The latest Tice commentary leveraged players are deleveraging. 1999 will be the summer of tough love fer da bulls. HO HO HO Mike Also, The latest Gerald Jackson newaus.com.au I would be surprised if AG raises rates because thus far his policies have been to perpetuate the bubble. We shall see. perhaps he has finally decided to do what a prudent central banker would have done long ago -prick the bubble. That surprise 3rd rate cut last fall before options expiration makes me skeptical .Mike