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To: Glenn D. Rudolph who wrote (95774)	3/7/2000 8:12:00 PM
From: Greater Fool	Respond to of 164684

>>divergence of VERT and CMRC Hard to say what's important anymore. Musings triggered by your earlier comment that you don't think this is the top: - Wealth is still flowing into the capital markets. Partly this is because new wealth is being created, particularly as productivity continues to increase beyond consumption. Partly, also, it's due to an ongoing transfer of capital from debt to equity. Finally, it's also due to transfer of capital from other nations to the U.S. equity markets. This is almost required by the trade deficit. - This does seem like a magical time. It seems that flexible yet standardized data communication (read the Internet) will increase the economy's efficiency in fantastic ways. Furthermore, most of the world's population is way behind us in this increase. So it would appear that the benefits to the world as a whole will be staggering, and that the U.S., mostly Silicon Valley companies, will be the provider of the technology that enables those benefits. Hence the U.S. will profit immensely. So given these two inputs, wouldn't it appear that tech stocks will keep zooming? Or is this just another turn-of-the-century attack of hubris which will be shown to be utterly naive in hindsight?