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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (27045)	1/7/2003 2:11:04 PM
From: LLCF	Read Replies (1) \| Respond to of 74559

Yes, I referred to what you said, and that it was 100% incorrect. <Explaining to me how ignorant I am, doesn't actually change the argument. > I'm not arguing or changing any argument... as you noted, that post was a signpost for you... it read: "You don't know beans about economics, but here's some people who do." So that was a signpost that is all... you don't look at all the signposts while you're driving do you? Well, ignore this one too if you like... it's just like some of those obnoxious ones you see on some roads. Sorry if you think it's rude... it's simply my opinion. You're expectation that I go into long winded explainations to refute your post which can be refuted by simply reading economic periodicals is in fact quite rude as well. I realize you like to read things that your mind can then immediately dismiss, debate, rearrange, or argue so as to let as little new light into the cobwebs as possible... but that's not really my problem or obligation. I don't particularily like typing for the sake of egoic jousting... just pointing out where the counter arguments can be found. DAK

To: Maurice Winn who wrote (27045)	1/7/2003 3:08:45 PM
From: carranza2	Read Replies (1) \| Respond to of 74559

It takes no extra money to bid a share price up. 100 shares can change hands, rising in price each time the same two people pass them back and forwards, trading fewer and fewer as the price rises, day trading their way to riches, and all the other shares are reported as having that value. How much money is in circulation is irrelevant. The key factor is that people think they are going to get rich from share price rises. A corny joke makes the point. A cowboy, Tex, sold his good horse, Stomper, to his friend, Hoss. He missed the horse, and offered to buy it from Hoss for a few dollars more than Hoss has paid. Hoss agreed. Belatedly, Hoss became aware that he too missed Stomper and therefore offered to buy him from Tex for a few dollars more than Tex had paid. Stomper's stock kept rising in both cowboys' minds, and Tex and Hoss kept trading Stomper back and forth, the transaction costing each just a few dollars more than the previous one until Tex decided to sell Stomper to someone else. This last sale of Stomper enraged Hoss. After getting properly liquored up, he brandished his six shooters at Tex, exclaiming: "How could you do that, you snake, we wuz both making a good livin' off that horse!"