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To: xcr600 who wrote (17321)	1/19/2004 10:37:56 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 48461

XCR, that was #3 in post 17311---#6 is a potential wipe-out> In the current Barron's roundtable, Marc Faber says> "The housing boom has come to an end. Refinancings are down about 70%. Real-estate loans have started to contract and home sales have weakened in the past few months. Once this asset inflation ends, consumption will slow or contract. It may start this year, as the impact of tax cuts ends. I doubt interest rates will fall significantly. But let's distinguish between real and fictitious growth. In China, there is tremendous investment in plant and equipment and infrastructure, which is real economic growth. On the other hand, it has now become fashionable, especially in the U.S., for men to have cosmetic surgery. As a result, let's say more hospitals are built. More doctors have to be hired and employment goes up. But to what extent does that create economic growth? A lot of economic growth in the U.S. is artificial, essentially transferring money from Peter's pocket to Paul's." online.wsj.com