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To: Glenn D. Rudolph who wrote (120668)	3/17/2001 2:11:28 AM
From: 16yearcycle	Read Replies (1) \| Respond to of 164684

Glenn, How is business anyway? Has it slowed? Every business owner I know is being decimated right now except for doctors and dirt movers(excavating.) Oh, and guys who run bear funds are doing good too.

To: Glenn D. Rudolph who wrote (120668)	3/17/2001 2:23:02 AM
From: GST	Read Replies (1) \| Respond to of 164684

Japan has done everything but one thing -- change their business practices, face the bubble they created and acknowledge their losses -- they have done everything humanly possible to deny their own bubble -- and that was more than ten years ago. It is astonishing, and it should be a lesson to us. The have bad loans and it is time to admit it and write them off. The have bankrupt companies and it time for them to go bankrupt. The have incompetent managers -- time for them to be fired.

To: Glenn D. Rudolph who wrote (120668)	3/17/2001 2:32:00 AM
From: GST	Read Replies (1) \| Respond to of 164684

Glenn: Imagine that you bought yahoo at $250 and listed it as an "asset" on your company books. Despite the fact that yhoo trades in the low teens, lets say you showed it on your books at cost -- $250 -- and never sold it in the hope that it would one day go back up tenfold and make you whole. This is Japan, ten years after their bubble burst. The lesson for us is to realize that our "yahoos" are not going back up. We must accept what happened for what it was -- it was a bubble and there is no going back. To deny it is to recreate the "Japan syndrome". The genius of the US is to flush the crap out of the system. Painful as it is, that is what we are doing. There is no "looking across the valley". It was a bubble. Flush twice and move on. That is also what Japan must do, but they are so, so slow to flush it down the toilet -- they won't admit they were wrong.