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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (71712)	12/10/1999 10:54:00 AM
From: epicure	Read Replies (1) \| Respond to of 132070

Don't you realize that speed and derivatives can actually make matters worse than the 20's- especially when you combine it with the fact that SOME folks trade only by computer and phone- what would they do in a real panic? They won't be able to trade- professionals will be able to get out, but the speed of a true collapse would be incredible with the new technology. Additional knowledge on the part of bankers? Didn't LTCM think they had better knowledge- that kind of thinking is hubris- and it will eventually bring you down.

To: BGR who wrote (71712)	12/10/1999 11:25:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

BGR, I am serious. I will respond to that later. Your views are shared by many and i am definitely in the minority but IMO you are all very wrong. I will get specific later. i have to run. One thing In your opinion can the gov't prevent recessions indefinitely if they make the right policy decisions? . later mike

To: BGR who wrote (71712)	12/10/1999 2:31:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, I am at a disadvantage because I am predicting something which has yet to occur ( TL&EV) and recognize my views are held by few. you fail to recognize that much of this "liquidity" has simply delayed the liquidation ( tough love) of malinvestments ( bad)and maladjusting the economy. it has allowed the consumer and corporations to leverage themselves like never before. While this trend is likely to continue it is not sustainable. When, I look around I see that most of the comforts in life are manufactured. I wonder how much of the service sector is dependant on revenue from the manufacturing sector. To all the health care professionals, accountants ,lawywers , financial planners out there How many of your clients live in Asia or Europe. To all the politicians out there who are the dumb saps who elected you? Where do they live? Free trade is good when it is fair but I see our manufacturing base being hollowed out and the buying power of the middle class being undermined. I am not saying close the borders but we do need to recognize the long term consequences of the current free trade subjecting the working class to economic violence. for a great read check out william Greider's " One World Ready or Not" mike