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To: Alan Whirlwind who wrote (53236)	5/24/2000 7:34:00 PM
From: Tom Byron	Read Replies (3) \| Respond to of 116756

some late oil news from the mid east. csf.colorado.edu

To: Alan Whirlwind who wrote (53236)	5/24/2000 7:51:00 PM
From: Alex	Read Replies (1) \| Respond to of 116756

<<There is a terrific article in The New York Times called "Japan Assailed for Omitting Data in Its Growth Calculation," which describes how Japan was basically cooking the books on its economic statistics. So now Japan's credibility is being called into question on top of the other problems it has. Here it is, ten years after the top of Japan's bubble, and folks over there feel compelled to cook the economic statistics to make things look better. It just goes to show you why you don't ever want to create a bubble: It's not the bursting that's the problem, it's the creation. When you hear revisionist historians -- such as Malcolm Forbes and Larry Kudlow, et al. -- who blame the problems of the 1930s on Fed tightening, it demonstrates a total lack of understanding of the problem with bubbles. Regardless of what causes it to burst, the aftermath is always horrible. Generally, the cause, which is identified with the benefit of hindsight, isn't really what ended it, it just happened to be last in a series of things that mattered.>> siliconinvestor.com