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To: Umunhum who wrote (87041)	2/13/2001 10:18:54 AM
From: jim_p	Read Replies (2) \| Respond to of 95453

uhmuhnum, There are some major differences that should be noted between the Nikkei bubble, and the Naz bubble: 1. Money supply in Japan collapsed from 13% to zero from 1990 to 1992. In contrast, money supply is surging in the US. 2. Fiscal policy was not used as an antidote to the economic downturn in Japan until well into the 1990's, while the US is moving fast with tax cut proposals. 3. Market breadth in the US continues to advance. There was no evidence of this kind of rotation in the Japanese market. 4. The mindset of the Bank of Japan was to deflate the bubble, in contrast the US central bank does not want the market decline to trigger an economic bust as evidenced by the rate cuts in January. I suspect there is good chance we will test the old NAZ lows. If that happens, I would load up. Jim