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

To: Gib Bogle who wrote (60632)	2/28/2005 12:44:16 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

Gib, it's one of those paradoxes that indeed, in the long run, we are all dead. But there are always lots of people around and financial and productive institutions are cruelly indifferent to the livestock which feeds their existence which in many instances covers three centuries, or more [Oxford University is nearly 1000 years old and the Japanese Chrysanthemum Throne has lasted 2000 years or so]. Ford Motors is into its second hundred years of existence. Barings bank lasted a long time. As a child, I recall thinking how absurd it was to grow pine forests for profit as they took what seemed to me 10 times as long as forever, being some 25 years and at age 8 or 10, that's not quite forever, but a longggg time. I didn't understand that financial asset capital value can be passed along and even if something doesn't produce value for 100 years, it could still be financial excellent next year for the creator [by selling shares in the project for example, or getting some loans on the strength of it]. < "oil is too expensive [meaning higher-priced that the long run marginal cost of production of oil or competing products]." > ElM is rubbing his hands with glee at booming ethanol production. But it's a LOT cheaper to suck a barrel of oil out of Saudi Arabia than it is to produce a barrel of oil equivalent from fermenting trees and soya beans. Mqurice