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To: Haim R. Branisteanu who wrote (74921)	3/2/2001 8:22:56 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

Haim, i'm not really wishing for it to come to pass...i like bull markets better than bear markets actually. but i think the denouement of the big bubble will inexorably follow the path of maximum pain whether we like it or not. i doubt btw. that Western Civilization as such will be endangered by the downturn. while it would be a big setback and be regarded as a catastrophe by many, it is in the final analysis a necessary process to restore economic health. the financial economy has become incredibly bloated compared to the 'real' economy. capitalist economies follow the long term Kondratyev cycle imo..the deflationary economic 'winter' is simply part of the cycle...it is the price we pay for the long boom of the disinflationary autumn...in order to make short shrift of the accumulated malinvestments, we have to accept that pain will be involved.