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To: Tommaso who wrote (161266)	4/21/2002 11:41:58 PM
From: LLCF	Respond to of 436258

<<My own pension fund, State of North Carolina, back in 1982 had next to nothing in the stock market. I was horrified to find about 18 months ago that it's about 60% in equities, and in many cases in non-dividend-paying stuff.>> Sadly this is playing out the same way all over the country.... the "stocks for the long run" story, while "commen sense" to youngsters and even the younger boomers was NEVER the norm for the older generations and it is just the past decade or so that the piling in has really ramped up. Sadly my state put a bunch of "school trust" money into the market right at the top and everyones squawking now. Our state has BIG budget problems that so far they are simply hoping will go away. Furthermore... on a national basis look how the budget FINALLY got balanced [debt not wiped out mind you... just stoppped the bleeding] during a few of biggest boom year EVER. It's all so obvious and sad how it's going to end, I can't even believe the gaul of the entire system from Govt./ Pension assumptions/ individuals to use the assumptions they do. DAK