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

To: SteveP who wrote (63456)	6/29/1999 2:44:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Steve, >>If it happens, Wayne, it'll be a sad day for all of us and I don't revel in those types of thoughts. << I agree with you. Wayne

To: SteveP who wrote (63456)	6/29/1999 4:37:00 PM
From: Freedom Fighter	Read Replies (2) \| Respond to of 132070

Steve, >>However, my guess is that this kind of stuff has been going on for as long as there has been capitalism and a Wall Street.<< One comment on this. I agree. I just suspect that it was never this bad and the general excesses were never this extreme. It's certainly worse than anything I've ever seen and the comments I've heard from a few old timers I know leads me to believe we are peaking in the reckless etc... dept. Wayne

To: SteveP who wrote (63456)	6/29/1999 4:45:00 PM
From: Mike M2	Respond to of 132070

Steve, hope is one of the emotions that builds a bubble. Hope that smart people can prevent a falling market perhaps AG well here is what AG had to say about the Fed's easy money policies before he became the politicians' banker fame.org BTW AG argues the Austrian economic perspective the only economic school which saw a problem with the excesses during the boom knowing that it would lead to a bust. Todays political economist offer hope that they can manage a boom to prevent a bust but the Austrians do not believe it is possible . More recently, Kurt Richebacher -a highly respected austrian economist explained why the SEA bubble would burst while the political economists praised the region as the SEA "economic miracle" in his March 97 letter in advance of Thailand's devaluing the Bhat in July. Mike