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

To: Defrocked who wrote (11150)	12/9/1997 8:22:00 AM
From: Tommaso	Respond to of 94695

I keep wondering if the Japanese stagnation is to some extent a consequence of a national pride--the way that England defended the value of the pound in the 1920s. They wanted the Yen to stay high--maybe become the most important world currency. Humiliation does wonders for a country. The loss of the Vietnam war and the financial messes of the 1970s in the United States eliminated a lot of complacency. Unfortunately the idea that we have "won" the cold war and year after year of cheap oil and prosperity have conducted us into euphoria. As bearish as I am about the stock market, I can't help sharing the feelgood mentality. Getting 42 mpg out of gasoline that in real terms is cheaper than 1965, when "economy" cars got 20 mpg.Better health care. Cheaper food. Much better wine and beer. More interesting things to watch on TV and elsewhere. It's a lot more pleasant time to live than the 1970s. Younger people don't even know what military conscription is. At the height of Napoleon's power, his mother--Mother of the Emperor-- used to wander around the palace he had installed her in, murmuring, "If only it lasts! If only it lasts!" It didn't.