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To: Robert Rose who wrote (78227)	9/23/1999 4:36:00 PM
From: Danny	Respond to of 164684

Oh, dear! MPPP ends up the only stock in green in my portfolio by the end of the day. What a turn around. Caught me by surprise:(

To: Robert Rose who wrote (78227)	9/23/1999 4:36:00 PM
From: Eric Wells	Read Replies (2) \| Respond to of 164684

Robert - I believe that some of the main points that are being made by those who claim that we are in a new "economic" era are as follows: 1. Because of productivity gains from new technology, the US can sustain high levels of growth without the threat of inflation. 2. The traditional business cycle no longer applies - the US economy has become recession-proof, or at least recession-resistant. 3. Traditional PE ratios no longer apply in determining equity prices - companies should be valued more on sales growth and cash flow (this is the DOW 36,000 argument). 4. We are not currently experiencing inflation in the US. 5. The high levels of corporate and consumer debt, high levels of spending and low savings rate are not things to worry about - these are all signs of a healthy economy. I don't believe in any of the above. Do you? -Eric