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

To: Raymond Duray who wrote (27906)	1/26/2003 5:56:58 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 74559

Ray, you need to review the Mindless Zombie thread. Subject 53236 If credit expansion causes share-market bubbles, we are therefore in a bubble right now. Most people would say we are not in a share-market bubble. The very simple fact is that people overestimating what something is worth is the cause of a bubble. It takes zero credit expansion for bidding to go wacko in any particular sector. The whole share-market could be bid to the sky by $1000 passing back and forth. Provided of course that the shares were split each time they were bid over, say, $100. A $100 trillion market cap could be created by two nut cases passing $1000 back and forth across the market. Provided of course that everybody agreed that the new paper value was right and other sellers didn't come crowding in. People with high intelligence would normally be able to understand that, but it's amazing how few 'get it'. I haven't seen my great and estimable hero, Uncle Al KBE, ever lie. I do not think you could show me two conflicting comments he has made. When people do try to show conflicting comments, they invariably show only their own inability to understand what Uncle Al was saying. Which is why they think he mumbles and is unintelligible even if the words are clear. I have no trouble understanding his words, so I'm surprised others do. He's not even speaking Kiwi. His reputation is intact other than with the mystical mob who blame the gods for their misfortunes, or a convenient scapegoat if they can get their hands on one. Mqurice