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

To: Knighty Tin who wrote (42722)	1/8/1999 3:49:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 132070

maybe those co's are worth Singapore and Norway, afterall those countries' governments don't sell anything on the net. BTW- I'd say there's a good chance that the long bond crashes on Mon.

To: Knighty Tin who wrote (42722)	1/8/1999 5:31:00 PM
From: Peter Singleton	Read Replies (1) \| Respond to of 132070

ok, MB, I'll grant you this ... maybe there's a temptation when you're bearish to think "there's never been anything like this before!" when it's just the same old bubble story all over again ... different capital market. what if it's not, though? we need an "unhappy girl" to make the case here, if there's anyone out there lurking .... : ) Peter

To: Knighty Tin who wrote (42722)	1/9/1999 9:59:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

Mike,one important difference between the current bubble and past bubbles like oil, gold et.al is the magnitude of public participation . The public has more of their net worth exposed to equities than real estate and consider the percentage of the public that is participating in " investing fer da long run" . The past bubble masters also did not have CNBS at their disposal -an all day infomercial for Wall St and the mutual fund industry. Unlike many past bubbles we will all feel the effects of its bursting -even those with no exposure to the mkt due to the negative wealth effect which will certainly (IMO) plunge the US into recession. The U.S. economy is geared up for a level of consumption which is unsustainable ( maladjusted -in austrian terms) stimulated by consumption and debt growing faster than income and the wealth effect of the stock market. It is really quite simple -these trends are not sustainable . The longer the bubble grows the greater the maladjustmnets which means the inevitable decline will be more severe. Mike