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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Bilow who wrote (9341)	11/7/1997 11:39:00 PM
From: Defrocked	Respond to of 94695

Carl, I'm going to catch some Zzzz's. BTW are you typing all that in or scanning it? Certainly is a great refresher but sometimes it too greatly reinforces my bearishness.<g>

To: Bilow who wrote (9341)	11/7/1997 11:50:00 PM
From: Investor2	Respond to of 94695

I just wanted to tell you that I enjoy your postings from The Great Crash 1929 by John Kenneth Galbraith. Thanks very much. I2

To: Bilow who wrote (9341)	11/9/1997 8:45:00 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 94695

Hi Bilow, Had the Federal Reserve acted in 1929, there would have been a severe recession, not a depression. The market popped in 1929 because it was the end of the industrial revolution which began back around 1870. By 1929, there were too many companies with too little demand. The end of the industrial revolution began the depression because there was an excess of companies, not an excess of inventories as in a recession. Today, we're at the beginning of a cycle, not the end of one. This is the age of the computer revolution and it has only just begun. There will be market excesses that will need to be worked off along the way, but I believe the market may have many miles to go before the party is finally over. GZ