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To: bill meehan who wrote (53768)	7/29/1999 6:34:00 PM
From: pater tenebrarum	Respond to of 86076

Bill, I brought up the parallels to '87 in my last put/call ratio update on the MDA web site. in fact there are so many similarities, it's downright eerie. not to mention the similarities to the 20's. you are quite right, the only eras that are comparable to today are the ones that ended with devastating crashes. in fact one could argue that the period of disinflation we have enjoyed since the beginning of the eighties, the growth in productivity, the easy monetary policy this has induced and resulting the asset bubble are all typical of a bubble economy in which the imbalances just continue to pile up. it's like a coiled spring, waiting to be let loose... regards, hb