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

To: MythMan who wrote (27802)	4/30/1998 11:12:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

Pete, i do not have time this am to address your tomfoolery at length but i will point out you are quoting a guy who works for micron's investment banker. This drivel is an attempt to rationalize a mania. An inflationary expansion of money and credit always has and always will be a recipe for disaster. I will address this foolishness at length tomorrow Will was out late and i have to have me powerbreakfast (grim style) ho ho ho Mike

To: MythMan who wrote (27802)	4/30/1998 11:23:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Pete, such foolishness. So Japan's banks are awash in stks well the American public is awash in grossly inflated stocks and debt. The financial mkts are awash in securitized loans which the banks keep cranking out. Low unemployment did not keep japan from collapsing. "Properly measured inflation" balderdash ho ho ho. The same "low price inflation" was present during the japanese bubble days and the US mkts in the 20's. Japnese banks have many nonperforming loans the US banks and financial mkts will have their share in due time. The US banks have massive derivatives exposure which is an accident waiting to happen. pete do you believe everything you read? Wall St spoke of DRAM shortage until the year 2000 in 1995. You baby brats are in for a rude awakening ho ho ho . mike

To: MythMan who wrote (27802)	4/30/1998 11:47:00 AM
From: Knighty Tin	Read Replies (4) \| Respond to of 132070

Pete, then why are stocks so overvalued, real estate so overvalued, and money supply expanding at unsustainable levels of growth? And they all have been for quite a while. Easy credit made this bubble. American banks are awash with derivative contracts, which are much more dangerous than stocks and bloated real estate. That bank regulation is a joke is something we already learned in the 1980s. However, you are right that you cannot compare the US bubble with the Japanese bubble. The Japanese export. We import. We have huge trade deficits. The Japanese have always had huge trade surpluses. The Japanese have a culture that allows leaders to snow them for a long time. We never believe anything our leaders say. In other words, when the Japanese bubble popped, there was still some real economic value to which overpriced securites could fall. When ours pops, we will still be importing because our economy is uneconomic. BTW, inflation, when stated correctly, is much higher than that reported. Short term, "risk free" rates tell us that. Pete, we have to chip in for a ticket to send you to Vienna. You need to study at The Austrian School of Economics. <G> BTW, it could be worse. If you were quoting technicians instead of de-frocked economic pundits, we would have to make you eligible for The Vienna Boys Choir. <VBG> The fun thing about bubbles is that we can all disagree and keep a smile on our faces until they pop. Good luck, MB