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To: clochard who wrote (81046)12/23/1999 3:55:00 PM
From: Earlie  Read Replies (1) | Respond to of 86076
 
Steve:

I don't think so. The short community has long since been devastated and hasn't been a consequential force in this market for many months IMHO. To me, it's that final thrust towards complete exhaustion that is an inevitable last gasp of a true mania. For all of us, never having seen anything like this, trying to make sense of it is just about impossible, but it is what it smells, looks and quacks like,..... a real mania.. It will end as have all manias before it, in a crash.

While I'm no pariah, I do think the back side of this one will be a global deflationary melt down. In fact, the evidence supports the fact that it is already well underway. The central banks have been fighting it with the only weapons they have, inflationary money expansion, but the stats suggest that they are losing the war.

The final blow from my point of view will be the crushing of the U.S. buck. The U.S. treasury scene suggests that this is also underway at an early stage.

best, Earlie