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To: Marc who wrote (10035)	1/7/1999 2:21:00 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 16960

OT -- In fact, cases such as Tulipomania in 1624--when tulip bulbs traded at a higher price than gold--suggest... Perhaps it is a sign of times. I read an academic paper (I think it was a PHD thesis) that postulated the Tulip Mania was not a mania at all and there were fundamental reasons (such as the difficulty of growing tulips in Holland at the time) that led to the price appreciation of the bulbs. As a strong general rule, manias happen when a shock to the system (such a sudden demand for real estate) causes the a section of the economy to soar to unpredicted highs. The mania starts with the price rise due to a fundamental demand and evolves into a demand increase due to a rise in price (i.e. the economic principle of supply and demand turns upside down). The bubble bursts when the supply and and demand meet. All I can say is that we live in interesting times and it seems that the times will continue to remain interesting for some time to come <G>. Sun Tzu