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To: MonsieurGonzo who wrote (51297)	9/1/1998 4:34:00 AM
From: Dwight E. Karlsen	Read Replies (2) \| Respond to of 58727

MG, my case is this: the stock market is manic. Excess to the upside to unbelievable heights (MSH index, YHOO, AMZN, DELL, LU), way past any rational expectation of future earnings growth. Don't even get me started on that subject. My point is simply that WS has taken a reality check, and this doesn't automatically mean that the US will be pulled into recession. Our economy is strong, employment very full and even too tight, interest rates are going lower. I just think it's awfully early to write off the US economy. I'm just curious: Were you calling for a global depression in July? If not, then what has changed, besides Russia's way-overvalued stock market collapsing on the house of cards it was built on (and attendent ruble collapse)? Russia's scary because yeah, we had a lot of loans outstanding, and they got 30.000 nukes. Oh don't worry, they aren't foolish enough to waste a perfectly good ICBM just because they owed a bunch of money they couldn't pay back. The Russian government has already defaulted on its debt, as I'm sure you know. Yes that causes pain to those like Bank of America et al who invested in Russia, but that's life. Yes, the Japanese Banks have massive amounts of non-performing loans. It's a tough position. btw, Nikkei closed up over 200 pts.

To: MonsieurGonzo who wrote (51297)	9/1/1998 10:59:00 AM
From: AlanH	Read Replies (1) \| Respond to of 58727

Steve, RE:"Hamburger Helper" Well, I couldn't wait 'til Amsterdam... went ahead and chewed up some buttons. You wouldn't believe the Market hallucinations yesterday. Say, where's a safe place on the planet when economic ruin hits? You know, when all the Neanderthals emerge... I'm hoping your area is safe (assuming that subtitles would merely bruise). WOW, we got a Morning Star on the 5min OEX. Gotta go, time to load up on calls. -Alan