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To: HG who wrote (129091)	7/26/2001 10:55:20 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 164684

>>Oh they were wrong about most of the things. I can predict the big one hitting San Francisco...and I can keep shouting from rooftops everyday at people who really want to get on with their lives....<smile>...and of COURSE it WILL hit SFO....one day...<< oh, THAT bear crowd ;-) >>And as for ponzi schemes...stock market is a ponzi scheme in itself....just like a craps table. If people are so consciencious, well, they don't have to play stocks....they can put it in CDs, or better, donate it to charity. I did a lot of charity stuff with my earnings btw.<< the market itself is not an inherent ponzi scheme. the way people want to play it often is. i didn't mind the bubble market in and of itself. it provided great employment opportunities that otherwise would not have been there. hey, and i was DEEEEEP in biotech when they skyrocketed in late 1999 and i sold out in feb 2000. i'm still holding that cash and i am quite happy. holding a $3 stock for 2 years and watching it run to $28 in a couple months is fun. sure, i shoulda held 2 more weeks and seen $40, $45 or $50 - whatever it topped at, but ya can't get all the juice ;-) i just know there are economic laws in effect and one is tanstaafl. no bubble has ever ended ended w/o disaster in the history of the world. the refrain, "this time is different" was almost always used and it was always wrong. bill meehan said tulipmania didn't have bad results. i posted Message 16044481 to him and await his response. none to date. in aany case, the disaster we are spiraling into is the fault of the bulls who played the greater fool theory and those that enabled them - alan greenspan. like it or not, the disaster and the cause are reality. wrt having money and losing it... most will. they always do. a good friend playing the greater fool theory made and lost about $500k in a year. the emotional roller coaster and stress on the guy was all but unbearable. he still talks about "blowing" his half million. last time we talked stocks he said, "bought more intel, when is the next time you'll see it at $48." i just hope he didn't buy the dips. another guy i know took his low risk portfolio and turned it into a high risk portfolio - at naz 4500. i hope your experience was better b/c these guys played the bubble and it took its toll financially and emotionally. in any case, i don't wish ill will on our economy. i loathe the thought. that is why i decried the cause (the bubble) of economic disaster when everyone was in a financially drunk stupor (including my friend who made and lost gonza bucks - well, chump change compared to hj ;-). >>I rest my case. LOL!<< not sure what this means, but defending the bubble is equivalent to defending the follow on disaster (that ALWAYS comes). i know many folks who will be punished severely for the sins of speculators and gamblers - and they didn't even partake in the fiscal orgy. that is a sad scenario to me.