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To: PaulM who wrote (30359)	3/20/1999 12:37:00 AM
From: Alex	Respond to of 116791

From Kitco................. 207.96.251.131

To: PaulM who wrote (30359)	3/20/1999 5:33:00 AM
From: Bobby Yellin	Respond to of 116791

Paul I find this very very dangerous..I had read a few months ago that most of the tax revenue in New Jersey came from capital gains. I also expect the same from New York. Upstate NY really has been hurt by Rubin's strong dollar policy. A lot of Canadians no longer shop there. I am assuming the mid west now must be hurting..but could easily be wrong.. I am also assuming that there has been enough taxfree internet commerce now to start hurting the coffers of the states. Also since most of the internet businesses..especially the high fliers have so many tax writeoffs,(one wonders if any will ever generate a profit) I don't see how they will generate tax revenue. I am also assuming their suppliers aren't making any more money than before and possibly even less in order to align themselves with some of these bignames.. Things are getting interesting just guessing ps. Perception changes fundamentals..if enough foreign money starts flowing into Japan.. the Japanese consumer might start thinking it is safe to spend money and then it might be reinforcing..besides the Japanese consumer watching his prudent savings erode more and more by the reinflationary policy in Japan just guessing