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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Kip518 who wrote (2577)	1/19/1999 9:14:00 AM
From: Wren	Respond to of 3339

This week's Barrons contains part of the discussions held at the annual January round table. In response to the comment, "I don't profess to understand what's going on in the rest of the world.", Felix Zulauf answered, "It is a timing question. There are problems around the world of a deflationary nature and the U.S. looks to be an island - isolated, to some degree. But it is a question of time before it hits the U. S. because one of the major forces for growth in the U.S. -- the investment cycle -- is turning over. When you have imbalances in the world like we had last year and the central banks come in and and manage the risk by pumping liquidity at the system, they prevent the system from adjusting downward. But they do not come in to restore balance when it moves to the upside. So you are building more and more imbalances and problems into the whole credit and economic system. And nobody can tell you whether you break the bubble this year or next."

To: Kip518 who wrote (2577)	1/20/1999 2:23:00 AM
From: Dwight E. Karlsen	Read Replies (2) \| Respond to of 3339

I was watching from across the street. He was an ordinary looking fellow, with somewhat shabby clothing. People were coming from all directions, headed towards him. A few were already talking to him. They were animated and excited, firing questions and exclamations at him. He was calm, trying to answer their questions. They and he were on the other side of a narrow one lane street, paved with cobblestone, in a working-class city neighborhood. A man paused next to me. "Who is he"? I asked. The man looked at me curiously, as if surprised by the question. But he eagerly told me: "That's Jack. His last name is Stalk, and they say his middle name is Bean. Jack Bean Stalk". He grinned. He paused, as if to relish knowing something that I did not. "Okay, why is everyone talking to him"? I asked. "He is a newly rich investor. He had all his money (which wasn't a whole lot, I learned later) in one stock, and within a few weeks he has become richer than anyone in the neighborhood has ever known." We stayed where we were, on the other side of the narrow street. The crowd was really growing fast. As we watched, someone put an over-sized suit jacket on Jack, and put a tie around his neck. The tie was loose, not snugged up at the top of his collar, but nobody seemed to mind. "You're a financial genius"! someone shouted at Jack. Another man went up and put a top-hat on Jack's head. Then they put him up on their shoulders, and carried him around in a little circle. "You're rich, Jack"! one shouted. I could see Jack's face clearly. He showed no emotion, he didn't smile or frown. He seemed a little bewildered, as if not understanding why he was getting all the attention. A reporter jostled my elbow, pad and pencil in hand. "Excuse me sir, do you know Jack? What can you tell me about him?" "No, I don't know Jack", I said, turning away from the reporter. The scene faded from my subconscious. The details are still clear in my mind. The only things I couldn't place were the place and time period. But I'm thinking it probably was England, pre-industrial revolution, or at the beginning of it. I dreamed this dream tonight. I had logged onto the computer, and saw how Excite and a bunch of other internet stocks had gone wild again today. But I only had a couple hours of sleep the night before, so very soon I turned off the computer and fell asleep. It's strange how the subconscious mind works. - Dwight