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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (34370)	10/22/1998 10:21:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

MM, yes things are different now the 20's had a higher savings rate, productivity growth, GDP growth, US was a creditor not a debtor nation, foreign trade was a smaller portion of GDP than now. Valuations were not as extreme at the peak in '29 mkt cap/%GDP was about 80% vs. 140% at the July peak.( note the use of the word peak! We ain't gonna see 10000) Public participation was not as great. For the first time in history the public has more money in mutual funds than savings accounts. The Fed has loss control over credit growth to an extent due to loan securitization and bank deregulation. I will address you foolish talk in more detail later. The tough love will be for the nonbelievers. ho ho ho Mike