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To: Oblomov who wrote (55264)	1/8/2001 11:21:11 AM
From: KeepItSimple	Read Replies (1) \| Respond to of 436258

Just deployed nuclear shorts of BRCM. Since GE has broken down, I think every single nasdaq investor has put their portfolio in this thing. A long term short and hold.

To: Oblomov who wrote (55264)	1/8/2001 12:17:36 PM
From: Mike M2	Read Replies (1) \| Respond to of 436258

Ob, it is worth remembering that the net worth side of the equation has benefited from the credit orgy and will fluctuate but the debt side is fixed - it must be paid or defaulted upon. Another point about the expansion of debt/ gdp ratio - it tells us more debt is going to unproductive uses and greater leverage. When credit is used for productive purposes successfully it is self financing whereas credit used for consumption or leverage is not. mike.

To: Oblomov who wrote (55264)	1/8/2001 12:30:38 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

i know...and i believe the main point about household net worth is how ephemeral it will prove to be. the debt incurred due to this perception of wealth will weigh heavily on the economy going forward. as to the statistics regarding trading volume vs. GDP, it is important to note that there were only two periods in history during which it has expanded as much as it has now: the 1990's, and the 1920's. there is indeed something that can be considered 'normal', namely the historical relationship of stock trading volume vs. GDP in non-mania times. i refer you to the depiction of this relationship over the past 80 years in this report. it clearly shows that when stock trading is so out of proportion with GDP that that's far from normal: cross-currents.net