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To: Alex who wrote (13611)	6/21/1998 6:13:00 PM
From: John Lacelle	Read Replies (3) \| Respond to of 116865

Alex, Thanks for the Galbraith post. I really enjoyed his book and its good to see that we still have a few people who were around in the 1930's to remind us of what can happen when the bubble blows. PBS has been running a fine series of historical documentary on the 1930's depression in the United States. The turmoil that could once again put the human race on its ear is lapping at our feet. I hope that the sturdyness of the United States and Europe can halt the kind of turmoil we have seen in Asia. As for me, I have already suffered through some biotech positions, and being long on IOM. For me, its just "back to work on Monday" sydrome. However, I wonder what will happen to those Baby Boomers that thought they were going to retire in about 3 more years with a couple of million in the bank? I would not venture to guess what they might do after the bubble blows... -John

To: Alex who wrote (13611)	6/21/1998 7:18:00 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116865

Galbraith sez: One of our stronger points is that in consequence of the existing Bretton Woods system - if properly financed - we have a structure for easing what the financial community loves to call a correction. I am thrilled to see someone of his veneration and station in economics ACKNOWLEDGE the existing Bretton Woods system as currently operative in the global macro-economics. Those who claim Bretton Woods Currency Accord is dead simply couldn't be more wrong. And to here this gent speak of its usefulness in "corrections," i.e., global bubble bursts, at least here domestically, is somewhat comforting. After all BWCA was carved out of the disaster called WWII Thanks for your time and effort in this one, Alex. For those who want to read up on the blueprint for current economic events to prepare for the outcomes, maybe you could repost that BWCA URL you posted a while back. O/49r