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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (25124)	12/16/1997 7:53:00 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

earlie, good synopsis, you evil bear, you ;-)

To: Earlie who wrote (25124)	12/16/1997 9:04:00 AM
From: Kathleen capps	Read Replies (1) \| Respond to of 132070

>>Let us hope that the bulls do take whatever courage they can find in last night's report........in order that short positions be increased. Amen to that!

To: Earlie who wrote (25124)	12/16/1997 10:23:00 AM
From: jeffbas	Read Replies (3) \| Respond to of 132070

Re: "multi-year contraction phase" Are you predicting less chips to be produced by the industry, lower revenues for the industry, lower margins, or what? I have not seen any one predicting either of the first two. Lower margins temporarily, probably. I think too much is being made about the impact of currency changes in Asia. These are not cotton shirts where most of the cost is labor. Most of the costs are/were in plant and equipment priced in dollars. If Koreans do not depreciate these costs in the price they will not have the money to maintain compatitiveness and will soon be selling the last generation of product, without the wherewithal to produce the next - in other words not a multi-year contraction phase. As I would be interested in shorting MU on a rally, would you please educate me on what is wrong with the above analysis.