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To: bucky89 who wrote (53295)	8/31/1998 1:07:00 PM
From: JBTFD	Read Replies (1) \| Respond to of 61433

Bucky89, you say: <<<<Come on, Thomas--the economy is not in danger of slowing down. This is what happened in the 1920's, and this is what you suggest will happen now. This market correction is caused by fears of weakness in overseas economies, not a slowing economy. It will pass.>>>> Personally, I disagree 180 degrees. Sounds like the Titanics captain to me.

To: bucky89 who wrote (53295)	8/31/1998 8:44:00 PM
From: Thomas M.	Respond to of 61433

...This market correction is caused by fears of weakness in overseas economies, not a slowing economy. That is just what caused the 1929 crash. The rest of the world was falling off a cliff for a time before reality hit U.S. investors. You do hint at the one true difference between then and now: WWI. Tom

To: bucky89 who wrote (53295)	8/31/1998 9:00:00 PM
From: Joseph G.	Read Replies (2) \| Respond to of 61433

Reads like communist propaganda - or you invented all this yourself? <<No, I do not think they do at all. In the 1920's you had the US recovering from WWI and the US economy looked a lot different from what it does today. 50% of the wealth was concentrated at the top 1% of the US population. This was the age of sweatshops and the like. Farmers were very poor. Ordinary people had nothing. The stock market boomed because the rich had money to buy stocks--totally different from today, where corporate securities are held by a broad cross-section of the general public. Loose monetary policy did not work in 1930's because people were in such dire straits and hoarded money. I see no general panic today, and if the economy slows down then lower interest rates will pick it back up again. If that doesn't work, then of course we can start deficit spending again. Come on, Thomas--the economy is not in danger of slowing down. This is what happened in the 1920's, and this is what you suggest will happen now. This market correction is caused by fears of weakness in overseas economies, not a slowing economy. It will pass.>>