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To: nommedeguerre who wrote (76439)	11/19/1999 7:17:00 PM
From: Imuah	Read Replies (2) \| Respond to of 86076

>Bad analogy, everything is smaller in Japan, even their P/E's.> Not quite so at the time of the bubble. People in the states were commenting that P/E's of 80 that they were seeing on some big Japanese companies was way too high. The Japanese response was that Americans took too short a view of the market, had no patience. Japanese people, the argument went, held stocks for generations. May be, but they eventually were worth much less than many had paid for them. People there were probably feeding on the same BS as over here at present. New era crap. Hell, it was a new era in '29, as new if not newer to those people back then as ours is to us. Radio, telephone, moving pictures, automobiles for the masses, airplanes. All this when many were alive when the frontier was still open. Present situation in the states is probably not as severe as in Japan at the time you speak of. They also had a real estate bubble going on. I'm just thinking how before things collapsed over there, employment was very high and and after the collapse people who thought they had life-time jobs were on the street. Do you know how the P/E of the Dow or the S&P compares with Nikkei at the time of their bubble? That would be a fairer comparison.