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

To: Mike M2 who wrote (86205)	12/6/2000 1:24:35 AM
From: Thomas M.	Read Replies (1) \| Respond to of 132070

I watched the Soros talk on CSPAN, and it was not too thrilling. His comments were fairly benign. He said the Euro's drop could be stopped if the ECB was a bit more aggressive in talking it up and in intervening. A couple of random bubble notes from James Grant's The Trouble With Prosperity: 1. In Japan, capital spending did not peak until 1991, over a year after the stock market peaked. 2. In 1932, at the bottom of the Great Depression, Citibank's forerunner had equity capital of 12.7% of total assets, earned 9.2% on equity, and loans were 47% of deposits. During the mild 1990 recession, the numbers were 3.4%, 4.4%, and 106%, respectively. 3. A NYSE seat sold for $625,000 in 1929. In 1942, the asking price was $17,000. That's right, kids, that's a 97% drop! It was also a 45-year low. HO HO HO! Tom