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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Edward E. Shure who wrote (6565)	8/10/1998 12:23:00 PM
From: Will Lyons	Read Replies (1) \| Respond to of 10921

The ongoing M and A activity could be thought of as an attempt to emulate the oil, steel, railroad, and other barons of the previous century. Evidently the investing public is showing approval by throwing money at the funds that continue to buy the nifty fifty regardless of p/e's that average much higher than small caps. Evidently big is beautiful! One could write a book on Malthus and global warming, global warming, water shortages, wars, etc.; and the various ads for luxury cars, homes, and watches alongside the published stories of poverty is what Veblen was about,. not the balance of the budget. That we appear willing to spend on luxuries and not on social overhead capital and other gov't programs may be considered as a result of what Veblen was driving at so indirectly the budget and expenditures patterns may be taken as examples that bolster his argument. But as this is not a political economy thread we should probably move this discussion elsewhere.