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To: Bald Eagle who wrote (7605)	2/16/1998 3:09:00 PM
From: JD	Respond to of 116972

It seemed like a good thing at the time...... Looks like the U.S. plan could be a no-win situation. If they bomb they have to defend growing accusations of being a brutal world dictator in their own right and if they back down now they lose an incredible amount of face. Saddam is controlling the biggest weapon ... media spin. He will also not hesitate to sacrifice hundreds of thousands of his people to better his bargaining position. Like it or not, the U.S. is quickly getting painted into a corner and they, and the rest of the world, may not come out of this as easily as originally thought. IMVVVVHO, regardless of the final decision the fallout from this is not likely to promote continued exuberance on Wall Street and will reduce the likelihood that the world will accept the $US as the long term global monetary standard. Will the herd come running back to gold??? 1. OPPOSITION TO BOMBING IRAQ GROWS newsday.com "Some insist the bombing wouldn't go far enough," "Others fear a U.S. attack would go too far, killing thousands of innocent Iraqi civilians, " "support wavered last week, with Republicans and Democrats raising questions about what an airstrike could accomplish" 2. IRAQ ISSUES WARNING TO KUWAIT newsday.com "'We hope they won't commit this deadly mistake." "Several hard-line Russian lawmakers visiting Iraq, meanwhile, plan to stay there as a ''human shield'' against possible U.S. strikes." " Israel's military, which drew up plans to kill Saddam in 1991, is again considering proposals to assassinate him, this time with a precision bombing raid," "In London, peace campaigners swarmed around an air base that would direct British strikes against Iraq,"

To: Bald Eagle who wrote (7605)	2/16/1998 8:59:00 PM
From: Mark Bartlett	Read Replies (1) \| Respond to of 116972

Wiseowl, <<Don't you think that the new DOW highs of last week confirm that the bull market is still alive and well?>> Alive - yes ..... Well - I am not so sure. I do not believe we have seen the end of the Asian crisis; not by a long shot. What concerns me is, it is unlikely IMHO that _future earnings are going to justify these lofty levels. One of the driving forces behind this market (as has been pointed out by many) is the amount of $$ that are flowing into it - money looking for a place to live. I do not ever recall a period when so many average people were throwing money at the stock market (often borrowed against assets that are over-valued) ... many of these people have never invested before. When things are good, it encourages the process to continue - I suspect many of these people have not got the foggiest idea that they are throwing their hard earned $$ into a very high market by historical standards. Nobody can predict the future ... maybe the DOW is good for 30,000 <g> - but when one looks at the Japanese market - what goes up will come down - and sometimes with a big thud. All the best, MB