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To: UnBelievable who wrote (605)	6/24/2000 3:01:00 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 436258

UnBelievable, I agree with your thoughts, but things do change. During my career I lived through the bear market of the late 60's and 70's, and we generated wealth during that period, just not in stocks. Re: they are no longer investing for the long term. I assume you are talking about the stock market. They will figure this out in due time and I suspect we will see a return (over time) to pension funds or something similar. They will demand something more dependable after this market gets back to some semblance of fair value. Re: moving 401k money. We will have a generation where some will move money soon enough to comfortably wait for stocks to appreciate again and some who loose a bunch and retirements will be lean and mean. Our generation had good times when there was a bear market. We were buying property and businesses getting great incentives from the government to do so. I can not remember paying any taxes during the last bear market as we were getting write offs for everything we were doing. There will be places for this generation to funnel money to make a buck other than the markets. A lot of these folks will take advantage of what ever is given them and will be ok. Joan