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To: Pete Young who wrote (11937)	5/20/1998 12:10:00 AM
From: bobby beara	Read Replies (2) \| Respond to of 116818

Pete, I have the same observations as you. It is a narrow band of people that are benifitting from this "wonderful economy" and most are holding on for dear life with the extended credit given by banks to further fuel their earnings to please wall st. The technology workers hold a similar prestige and earnings level to the auto workers of the 20's Even Bill Gates net worth on a constant dollar basis is similar to Henry Ford's. South African Mining stocks were the best performing group of stocks in the 30's. I expect gold to perform even much better now than in the 30's, because I see a gold backed EURO putting big pressure on a slothly dollar which has been grazing on the fat of the land too long and has forgotten about slaughter houses -g- Govt finances holding together?, backed by the full faith and credit of Bill Clinton. That one to ponder -g-

To: Pete Young who wrote (11937)	5/20/1998 10:51:00 AM
From: William JH	Read Replies (2) \| Respond to of 116818

Re: "historically high default rate n credit cards." I have a VISA issued by a credit union in a small town in the Mojave Desert in Cal. They recently sent out a mailing to say they were raising the interest rate to 10.9% from 9.9% due to the large number of folks who were declaring bankruptcy and not paying off their cards. They also now offer debt counseling to members free, something new. My question: When a person doesn't pay their credit card bills for purchases made, aren't they creating paper money from nothing? Regards, WJH