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To: Haim R. Branisteanu who wrote (56499)	1/10/2001 6:21:13 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

Haim, the point about fiat money is a fallacy, as it increases through the creation of new DEBT. and that has been shown beyond a shadow of doubt needs to increase geometrically to support the bubble. 409 billions in equity fund inflows have failed to move the market anywhere over the past two years (it's by and large at the same level), and that doesn't even take into account the explosion in margin debt. printing up more fiat money can bring temporary relief, but does it increase the economy's productive potential? the answer is clearly NO. and the returns you cite from these stocks recent lows are only valid for those that were fortunate enough to actually BUY those lows. by definition, it is impossible for the vast majority of market participants to do so. but look how far these stocks are off their highs, and then look how much trading activity has taken place during the collapse, that's all money gone to money heaven for the buyers. imo the activities of mo-mo funds and traders and the increase in market volatility they have wrought are BAD for the market, as it has become nearly impossible to invest...all you can do is trade, both long and short, but investing in this bloated and dangerous market has become futile.