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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Mad2 who wrote (1631)	6/28/1999 8:53:00 AM
From: Daniel Chisholm	Read Replies (2) \| Respond to of 3543

Kinda reminds me of Japan back in 1990 when they had their real estate bubble. Japan is in a pecular quandry in that the crappy performance of equities and real estate have the Japanese consumer hunkered down believing he has to save instead of spend, in a country that previously had one of the worlds highest savings rates. Think about the attitude of Americans who were 10 years old or older in 1930, and therefore remember the 1930s first hand. Their attitudes towards savings, debt, stocks, and risk in general sure seems fuddy-duddy now, especially when viewing in hindsight all the wonderful opportunities that such overly conservative investment attitudes caused them to miss. Right around the time that most of them are dying off might very well be the time that the few of them left will be able to say, in a bittersweet sort of way, "I told you so!", as the pendulum violently swings from recklesness to extreme risk-aversion. - Daniel