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To: WTSherman who wrote (15511)	3/4/2001 1:29:26 PM
From: Bipin Prasad	Read Replies (1) \| Respond to of 19079

WTSherman, Bravo! All so true!!! Thanks! later, InSook Prasad

To: WTSherman who wrote (15511)	3/4/2001 5:58:30 PM
From: TobagoJack	Respond to of 19079

Hi WTSherman, Better to move this OT to ... Message 15446658 All are welcome. Chugs, Jay

To: WTSherman who wrote (15511)	3/4/2001 6:41:28 PM
From: MeDroogies	Read Replies (1) \| Respond to of 19079

Excellent post, save for one point: I believe the US has altered one very important thing - it is very good at long range planning now because it incorporates change into the overall picture. Example: my company requires a 6 month, 1 year and 5 year plan. There is a best case/worst case scenario, and factors/reasons that are employed. This gives us some level of focus over the short term and we are able to exercise and execute plans effectively. However, when situations change, we are able to address them quickly and easily. Flexibility is very important. So, while I agree wholeheartedly with your post, I'd say that above and beyond unpredictability, the US is now a much more "Japanese" place in terms of how well it marshals resources and plans, but has maintained its entrepreneurial flair and ability to produce things "first".

To: WTSherman who wrote (15511)	3/5/2001 8:30:17 PM
From: Rob S.	Read Replies (1) \| Respond to of 19079

OT Nice post. I think all the talk about a recession and comparisons to Japan's bubble bursting are a good part misplaced. In the first place, the bubble in Japan occurred across all tiers of their economy - all business segments, real estate, services, etc. The recent bubble in the US was confined largely to tech stocks. In fact, by this time last year the NASDAQ had diverged from the broad market to the largest extent by far in it's history. If you chart the differential in valuations between the NAZ and the broad non-cap weighted market indexes (the multi-billions in weightings of Internut and hyper inflated fiber telecom pigs slewed the cap weighted indexes obscenely) you would see a deviation of Seven Standard Deviations!!! That is something like a 99.99% probability of the deviation being closed. Of course at the time that statistical piece of information would lead you to conclude that the gap could have been closed by one of a few ways or combinations thereof: 1] The broad indexes could have advanced so that average stock valuations fell more closely in line with the nose bleed NASDAQ. 2] The NASDAQ could have plummeted while the broad market held it's ground. Or the NASDAQ could have gone down while the broad market went down less. In retrospect, the latter appears to have happened. The broad market indexes have not done too badly. In fact, the S&P small cap 600 and S&P mid cap 400 indexes are each up about 12% from this time last year. There is no bear market collapse. There is no recession. There is only the slaughter of overly fat pig stocks. Real estate is not collapsing. The service sector is not collapsing. Wages aren't collapsing. The broad economy is doing just fine thank you. The world economy is for the most part doing just fine thank you. There is only the gushing of hot air out of the ballooning tech stocks. I think tech stock investors are just a bit airsick. That is all. I wish investors would wake up and quit being babies about their mistakes. Get real, we all knew that the artificial high couldn't last forever.