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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (17510)	7/1/1999 1:26:00 AM
From: Charles Tutt	Respond to of 64865

Jon Thanks for that excellent summary.

To: Jon Tara who wrote (17510)	7/1/1999 7:37:00 AM
From: Mike Milde	Respond to of 64865

<< The editorial also debunked the "wealth effect" argument, stating the obvious that for everybody using market gains to buy stuff (supposedly causing inflation), there is somebody else on the other side of the closing trade, who is buying the stock while refraining from buying 'stuff', offsetting the inflationary effect. >> That assumes that people have to sell stock to buy something with their wealth. Isn't it more likely that people see their rising stock portfolio and then become more careless about spending their paychecks or what they have in savings at a local bank? Mike