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

To: Mary Cluney who wrote (38312)	12/5/1998 9:36:00 PM
From: Skeeter Bug	Read Replies (4) \| Respond to of 132070

mary, why do you reach that conclusion? why can't mass hysteria occur? why can't greed blind rational thought. why did hitler decide he had the capability to exterminate his foes, with the help of an ENTIRE nation - for all intents and purposes - and take over the world. greed or fear blinding rational thought processes is the rule. rational applications of rational thought processes are the exception that prove the rule. are those idiots that mistook a symbol for ticketmaster online geniuses? they are idiots. that is a fact.

To: Mary Cluney who wrote (38312)	12/5/1998 9:59:00 PM
From: accountclosed	Respond to of 132070

Mary, I'd love to debate you, but I am not really sure what you are trying to say. I don't think the underlying purpose is lost. I do think that there is a mania in stock valuations.

To: Mary Cluney who wrote (38312)	12/5/1998 10:28:00 PM
From: Ilaine	Respond to of 132070

Mary, much as it pains me to admit it, I agree with you. I hate it when that happens.<g>

To: Mary Cluney who wrote (38312)	12/6/1998 12:20:00 AM
From: Alias Shrugged	Respond to of 132070

Hello Mary <<<<<May be that is where our differences surface. If that underlying process (as you understand it) is still there, then I don't think with all the smart people out there - that they could so easily lose sight of it. There has to be some other explanation - something else is at work, other than that people have gone beserk and are caught up in some kind of frenzy.>>>> "Smart people" make bonehead investments all the time. Who was it that loaned money to Russia, Brazil, Mexico? Who was running the banks and S&Ls that overlent for real estate in the eighties. Who has helped finance some of the now-empty factories and office buildings in asia. Who helped finance overbuilding in the oil patch in the 80s. People tend to overdo things on both the upside and downside. Who bought gold at $800 per oz.? Fear, greed, conflicting interests and herd mentality combined with torrents of cash have led to a bubble, and the clowns running the place are all too eager to spin tall tales justifying these dangerously high valuation levels. If valuation has little meaning for you, you need to change asset classes, as US large cap stocks currently discount none of the nasty economic fallout heading their way. Mike