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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (27915)	9/15/1998 8:19:00 AM
From: Tommaso	Read Replies (1) \| Respond to of 94695

If you look at the bull-bear survey on SI, which I imagine reflects where people are actually keeping or putting their money, it's still heavily bullish--more so than a few days ago. Since in some sense this thing has been going on for a generation, almost--a general rise unparalleled in stock market history, even in the 1920s--the denouement may take as long as, or longer than, the 3-year bear that ended in 1932. Which is not to say that I look for a 90% drop or a renewed Great Depression. But relative hard times could be ahead. One thing I really cannot comprehend is how the United States can get away, year after year, with running these huge trade deficits. If we had an international gold standard the consequences would already be catastrophic, but with pure fiat money the only way out may be another inflation that at least doubles prices within a five-year period.