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To: patron_anejo_por_favor who wrote (50262)	8/15/2002 9:34:40 PM
From: UnBelievable	Read Replies (1) \| Respond to of 209892

The Oven Isn't Working Maybe If We Heat Up The Thermometer That will fix everything. What seems to been overlooked in this whole discussion is the significant income redistribution which these activities cause. If you ever tried to get a tax bill, or for that matter, any bill, that did what propping up the market through Congress you would not get a single vote. For example, leave the market alone but give everyone a 50% tax credit for any loss in value of their stock. While it is true the more people than ever have some stock, while I don't remember the exact statistic, but something like the wealthiest 1% own 80% of the stock. The problem is everyone want the stock market to go up so they think it is fine that the Fed does what it needs to so that happens. They don't realize that in doing so they are transferring wealth from them to the rich folk.

To: patron_anejo_por_favor who wrote (50262)	8/15/2002 10:04:13 PM
From: langj	Read Replies (1) \| Respond to of 209892

Question to the thread : Each time I brought the issue to so-called specialists, the Japanese scenario is dismissed as far-fetched, structurally impossible... In my view, the announced recovery is completely artificial : maybe the only thing sustaining right now the US economy from a very deep and protracted depression is the real-estate bubble induced by low interests rates, giving the consumer the artificial comfort of a relatively stable net worth, and fostering perpetuation of purchase habits. But for how long ? How long will this counterweight insulate our perceived economical well-being from the financial disaster in our individual stock portfolios and mutual funds ? I understand why Greenspan cleverly told the press there is no speculative bubble in real-estate... Someone has deflation stats for japan real estate between 1985 and 1995 ? Langj