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

To: lorrie coey who wrote (73725)	1/15/2000 9:56:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Up in the attic (pull-down stairs, so I'm not up there much) I have shelves of semikooky financial books, and I might have that one. The book may have become relevant, though reponsible control of the money supply from Volcker's first appointment up until the last couple of years has made possible the stability we have enjoyed. Three years ago, on the Kahuna thread, I was arguing with Joseph G., who was talking apocalypse at that time, that we were NOT in another 1929 configuration and that the wisdom of our government and its built-in economic stabilizers would enable us to recover from a serious decline in the stock market. That was then. We are now in a condition of such fundamental economic unsoundness that all sorts of economic arrangements are likely to be so disrupted that it will take at least a decade to start to get it right again. I am trying to figure out what is the wisest course to preserve some real wealth for my family, and so far the soundest thing seems to be totally free of debt. Nobody can come after us for anything. A good wine-cellar seems like a good investment to me. I mean for drinking, not for selling. But the climate where I live would require an artificial "cave". I think a really good professional reputation is worth having. But I have enjoyed following the investment scene for thirty years, and I will be sorry to see it turn into a financial nuclear winter because of the foolish excesses of the last few years.