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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (1319)	8/28/1998 10:02:00 AM
From: bobby beara	Read Replies (2) \| Respond to of 3339

You've bought the street line hook, line and stinker. Fundamentals stink, earnings and revenues are shrinking and valuations surpass the 20's and 87' peaks. Low interest rates haven't helped the Nikkei over the last 9 years, nor did they help the post 20's period. Read Galbraith and his treatise on the short term memory of the financial mind. We are in a deflationery period - THE STREET AND GREEMSPAM HAVE THEIR EYE ON THE WRONG BALL.

To: Paul Shread who wrote (1319)	8/28/1998 10:03:00 AM
From: Gwolf	Read Replies (1) \| Respond to of 3339

Paul, In recent history bear markets have been brought on by a rise in interest rates, however, if you go back through the history of market panics you will see that the hardest and most severe bear markets come about as the result of deflation. There is a saying that is very important here " Don't fight the last war ". Bobby, all of the central banks are selling gold and the production levels have been high for several years. At this point in time the simple law of supply and demand doesn't favor gold. There is simply to much supply and not enough demand. You may have a point but I would look to other hard assets that have a better supply/demand equation. Gwolf