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To: jim_p who wrote (77892)	11/4/2000 2:17:57 PM
From: Greywolf	Respond to of 95453

Lukman: OPEC to stabilize market, ensure fairness Interesting.. irna.com and irna.com

To: jim_p who wrote (77892)	11/4/2000 9:07:32 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 95453

Jim, Warp OT Although I am a big believer in the coming tech wreck, I don't personally believe that the bubble will take a extremely long time to unwind. My basis for this is our very flexible form of economy; creative destruction a la Shumpeter. I don't believe that the tech wealth effect filtered down to a terrifically wide set of people, and the people who were (and will be) affected should comprise, in general, a younger group, more ready to bounce back from margin calls, selling the dot.com mansion and flash car in personal bankruptcy. In Japan, recall, stock was, and still is, sold door to door to housewives by Nomura agents who "guaranteed" upward movement. Money gambled away in the 1980s (I was there, it was very interesting) was the household budget. Ezra Vogel wrote a best seller called "Japan As No. 1" and Japanese ministers almost routinely scoffed at the American economy, beset by racial impurity (mongrel, I believe, was the word used), confusion and the savings & loan debacle. When the Japanese were punched by the Nikkei and the land bubble, it affected everyone who was on the merry go round. And everyone, practically, was on the merry go round. Japan, the bicycle economy: when it no longer goes forward, it falls over. But I do agree with Mr. P that an equity investment in a 500K-600K fixer upper in Silicon Valley will prove a depreciating investment. Jim, you may recall the old joke in Houston circa 1984: what's the difference between an oilman and a pigeon? A pigeon can still make a deposit on a Mercedes. Current version: what's the difference between a Silicon Valley mortgagee and a pigeon? Best regards