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To: KeepItSimple who wrote (96108)	3/12/2000 6:45:00 AM
From: MSI	Read Replies (1) \| Respond to of 164684

I don't know about the "spigot running full blast"; it seems contradictory to the wealth-effect worry, and I only hear this from the bears, who basically have to claim AG has decided to forgo professional integrity and swindle the country. I'd like to see credible references. No doubt many are mortgaging homes for risky investments, and will be hurt if they guess wrong on their ventures, but they are deciding to be venture capitalists, and that's a game where lessons are learned the hard way. Margin debt is still $ 1/4 T, compared with $16 T total, only 1.5%. The economy is not a zero-sum game financed by government. Efficiencies gained by this renaissance of invention are creating a virtuous cycle during this acceleration period that never happened in the 70's and 80's expansions. Inflation showed up right away, and not just in luxury items. There's a $2T or $3T shift happening in the economy right now, and those that stay on the bus will gain, those that don't will get run over. I still wouldn't invest in RMBS, however, but that's just me, apparently.

To: KeepItSimple who wrote (96108)	3/12/2000 11:36:00 AM
From: Robert Rose	Respond to of 164684

<The speculative mania has reached a point where inflows from investors is no longer enough to keep the pyramid in the air.> The SJ Mercury News reported yesterday that the Nasdaq's PE ratio reached 388 this past week, up from just 35 three years ago. <If you count only the profitable companies amount the top 100 companies on Nasdaq, their PE...is more than 80.... This is still more than twice the historical median, but closer to earth than the PE for the whole Nasdaq market.> Enjoy!

To: KeepItSimple who wrote (96108)	3/12/2000 1:11:00 PM
From: Skeeter Bug	Respond to of 164684

keeps, you are exactly right. i read someplace that alan.com was question money supply measures. so, whenever alan.com doesn't get a number he likes, he changes or questions the number. he will continue to print and disburse money until the world recognizes he is destroying the buck and that is worse than letting the bubble explode out of control. why are the printing presses so important in a "new economy?" this kind of monetary policy could have been used at any time in history and gotten the same results if foreign countries were sitting on oodles of extra capacity used to soak up u.s. demand w/o causing consumer price inflation in the u.s. the exploding trade deficit tells that story. why so much FEAR when the "new economy" is so great? the emperor has no clothes, folks.