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

To: Freedom Fighter who wrote (75742)	2/11/2000 9:02:00 PM
From: re3	Read Replies (1) \| Respond to of 132070

<<<<<I thought my position was full, but I will probably buy some more Monday morning. a fourth third <g> ??? of berkshire ? i don't understand how a massive selloff on wall street would translate into berkie being viewed as a safe haven. i mean, besides silver, what has berkshire really got ? (1/2 <g> on that comment because i'm partially serious) bwdik (but what does ike know)

To: Freedom Fighter who wrote (75742)	2/12/2000 2:48:00 PM
From: Don Lloyd	Respond to of 132070

Wayne - prudentbear.com '...According to Minsky, financial positions evolve from ?hedge? (backed by ample and stable cash flows) to ?speculative? and finally to ?Ponzi? finance, first as expectations about future returns become increasingly optimistic, and later as expectations are disappointed or financial arrangements are disrupted.? Quoting Minsky: ?It can be shown that if hedge financing dominates, then the economy may well be an equilibrium seeking and containing system. In contrast, the greater the weight of speculative and Ponzi finance, the greater the likelihood that the economy is a deviation amplifying system?Over a protracted period of good times, capitalist economies tend to move from a financial structure dominated by hedge finance units to a structure in which there is large weight to units engaged in speculative and Ponzi finance.?...' Regards, Don