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

To: Tommaso who wrote (77944)	3/16/2000 10:26:00 AM
From: Mike M2	Respond to of 132070

Tomasso, I have given up preaching to a great extent. Even when I cite hard irrefutable factual issues - I get blank stares. There is only one thing which will sober up the masses TOUGH LOVE ! The Austrians agree with your view that credit must expand at an ever increasing rate to maintain the stimulative effect on the bubble but obviously that cannot continue indefinitely as Mises said our choice is abandon the expansion voluntarily ( not likely in an election year) or continue until there is a catastrophe in the currency system - MEGA TOUGH LOVE. Mike

To: Tommaso who wrote (77944)	3/16/2000 10:29:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

T, One of the things that will kill it besides frictional costs is that there isn't enough income from the companies (dividends) to support the margin debt. The positions require capital gains to support them. That's not a theoretical problem as long as profits are growing fast enough to support the difference between borrowing costs and the dividend yield. Right now on an overall basis they are not. So the only way you can support the debt is to bubble up the system further. Surely there must be some limit to this before the amount of money required blows out everything. So even if people don't start willingly withdrawing from mutual funds, 401Ks etc... margin calls will eventually do some damage. Wayne

To: Tommaso who wrote (77944)	3/16/2000 10:45:00 AM
From: Skeeter Bug	Respond to of 132070

tom, you are as popular as the guy yelling "vd" in the midst of a wild orgy! ;-)

To: Tommaso who wrote (77944)	3/16/2000 7:08:00 PM
From: 10K a day	Respond to of 132070

There's no point in trying to play Mozart in the middle of a rock concert.>>>>> HAHAHAHAHA...Tommaso..That IS a classic. :0)

To: Tommaso who wrote (77944)	3/16/2000 9:31:00 PM
From: Earlie	Respond to of 132070

Tommaso: I sure as heck know the feeling. (g) At this end, a neat thing has come to pass. This nutty tulip has moved to such an obscene level that there is no longer a question in my mind as to whether the market hurtles over the cliff edge or not, nor even of when. It is already obeying the laws of gravity and making good progress every week. When one reaches this conclusion and when one has sooooo muuuuch ammunition with which to beat the poop out of the bulls, it becomes a fun game to do just that. Of course, as the market continues to deteriorate and as the bulls have to twist their heads ever deeper into the sand to avoid seeing it, their breathing becomes labored and it is increasingly difficult for them to hear or respond. I've taken enough abuse from indifferent and just plain dumb bulls during this last year or so to fill an ocean. I'll stay "in their faces" with the facts until they either "get it" and get out, or their losses cause me to revert back to my more normal stance which is to worry about how our society will manage to get through it without major trauma. Best, Earlie