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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (8364)	9/3/1999 8:51:00 PM
From: Investor2	Read Replies (4) \| Respond to of 15132

September 30, 1998 Milton Friedman's Bubbles Memo To: Professor Milton Friedman From: Jude Wanniski Re: "Bubble Trouble" polyconomics.com An excerpt: "Friedman: I have believed for some time that the stock market was in a bubble, and that bubble just burst. And it's a good thing to have bubbles burst, because you cannot sustain a bubble indefinitely. And if the bubble goes too far, the bursting has very serious consequences. The best example of that is Japan, where the bubble went too far in the late 1980s, and when it burst in 1990 Japan took action which led to, by now, eight years of seriously depressed conditions." In 1998, he believed "for some time" that the market was in a bubble. I hope he didn't sell all of his equities! <g> Best wishes, I2