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

To: Simba who wrote (77927)	3/16/2000 10:02:00 AM
From: Lymond	Respond to of 132070

Simba, So far so good, although it's still very early days. Unfortunately, it remains very hard to conceive a soft landing for the NAS given the insane trajectory of its recent rise. things become blurry Chunks are being steadily ripped out of the NASDAQ, but eventually subside at around 1500 or so (though that one-day drop to 200 was a bit scarry). The throngs stare in horror, as one by one, the bodies begin to float to the surface. Credit growth stalls; margin debt plummets; and liquidations ensue. The stench of panic fills the air. But lo and behold, things turn out to be not so terrible. Waves of former Trader Nation Junkies stagger into rehab, poorer but wiser. They rediscover the virtues of family, friends, and doing an honest days work. Final demand ebbs; growth reverts to 0-2% for a spell; short rates top out as the Fed backs off; some financial institutions take real pain -- but nothing life-threatening to the system overall; volatility declines and remains subdued through the next 12-18 months; and horror of horrors, bonds become fashionable again -- true vindication for Buffett, Russell and the other apostles of compounding, who are now regularly featured on the evening news <bg>. Voila -- soft landing is achieved. Greenie is beatified shortly thereafter by the True Secular Temple of Mammon, founded December 31, 2000. *suddenly awakes * Well, that's the way I dreamed it anyway. <g>