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Strategies & Market Trends : Bill Fleckenstein, the BEAR! Is he finally right? -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (63)	9/3/1998 8:21:00 PM
From: The Ox	Read Replies (1) \| Respond to of 259

I believe that Americans are starting to save more money then ever before. The tax reforms and IRA/401K changes have seen to it that more people then ever before are saving large amounts of their income. While most will not diversify as much as they should, I believe the inflows of money into the various markets, bonds, stocks, commodities, etc, will continue at ever increasing rates. Additional tax reforms could/should help to keep this inflow growing for the foreseeable future. While I agree that much of this new money is entering while the market is "overvalued" from a traditional view point, I do believe that the traditional view needs to adjust for the above changes. I also believe that the US investor will start looking beyond the local markets and invest more of their money globally but only as the foreign markets do what it takes to convince the US that our money will not be used to keep the crony/old-boy network in place. I should also state that I believe that this market was ready and needed this correction/bear. When one looks at the history of our stock market, we have seen exceptional periods of growth like we've achieved in the last 3 years. History has also shown that the 4th year has NOT been an up year but has always been a period of correction/bear.