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To: marginmike who wrote (116954)	4/21/2002 7:14:17 PM
From: Jim Willie CB	Respond to of 152472

MMike yes, good investments, but only after 10 years I tossed in the slavery triangle with tongue in cheek each expansion bubble boom bust had similarities railroad was built with little concern for profitability it was a race across the continent much federal subsidy with little attention to best run RR then came the bust automobiles enjoyed a phenomenal expansion what were there? 50 car companies? I think it was a shame that Packard disappeared merged with Studebaker, then exit left, gonzo the easy money was primarily in overleveraged stock market they had 10% equity leveraging 90% margin back then !!! the Federal Reserve had a giant role with the last bust they raised interest rates to pop the bubble they had only 14 years of existence, and exacerbated a disaster but I wont go into details now we have the telecom, computerdom, fiberoptic buildout I consider mainly the wireless and fiberoptic in parallel little concern for profitability, just get the network built easy money either from commercial loans or VC's or IPO's, didnt matter now the bust each era that went bust had a 10-yr period of pisspoor stock performance, coinciding with a strong revival of the commodity markets I expect the rest of the 00's will be very similar so far, according to script in my view, the bigger revelation is that after a decade of tremendous stock market growth in the 1960's, we saw an oil/energy crisis, the culmination of a very unpopular and costly war, Middle East tensions, a superstrong USdollar, and KingofWorld US prestige same now after the end of the 1990's almost perfect parallel as Twain said: "history doesnt repeat itself, but sometimes it rhymes" I think it is rhyming now in near perfect harmony / jim