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For the record:
1) Just because the bubble will burst and a depression likely, does not
mean an apacalypse.
Did I mention apocalypse ? You did. Why do you associate the end of
the earth with
an economic depression ?
2) I understand that market crashes have happened before. What you do not
understand is, when
this mania ends, it has the makings of being the mother of all crashes.
3) Sure the folks who are gambling will get burned and most will take it in
stride.
There may be a few that go over the edge, like the daytrader in Atlanta.
The millions of hard-working folks who are not playing this market will
be hurt
as they lose their livelihoods and homes, after they are fired from
their jobs
as a result of the meltdown to come. When people are desperate, they do
desperate things.
Many of these folks will turn to crime -- that was the subject of the
last e-mail.
4) I agree that the government should not manipulate the markets, I never
said they should.
What you fail to understand is: we got this bubble by their direct
manipulation
Who do you think flooded this market with liquidity and eased rates to
make it happen.
And yes, I do believe that Greenspan is a !@$*)^$!#@(, and a !@$()^!@$*
5) I do not troll lists soliciting responses. I am just voicing the other
side of the coin.
It seems that all one hears is the other side, of how wonderful the
economy is (it is ?)
and how much we owe Greenspan and Clinton our eternal gratitude for it.
If you know anything about economics and history, you know better.
Apparently you know little of both.
===================
At 01:42 PM 1/1/00 -0800, you wrote:
>James Taylor again predicts the apocalypse with:
>> You will need the ammo when this massive US market bubble breaks, tens of
>> millions are unemployed and homeless, and the crime wave spreads like wild
>> fire.
>
>I've resisted replying to this tripe but enough already. James, if you
>really believe that, you should do 2 things. First, short the stock
>market. Second, buy gold, guns and grub (the 3 Gs) and head for a cave
>in the hills. Have you done either or do you just enjoy trolling email
>lists hoping to get a response to your outrageous remarks?
>
>My take.... sure there will be a crash sometime. So what? We've had lots
>of them in the past. Most americans have their paper stock wealth in
>retirement accounts and a crash won't affect their current standard of
>living. All that will happen is they will have less money than they
>expected for retirement but they probably didn't deserve that money
>anyway. If they really expected the market to go up 30% a year to
>infinity, they are fools and they deserve what they get.
>
>James likes to paint Alan Greenspan as the Great Satan. While I don't
>think he's God, I think he's done a pretty good job. We've had good
>growth in the economy and inflation has stayed under control. That's
>about the best you can expect from a central bank. James thinks
>Greenspan should manipulate the stock market to prevent a "bubble". I
>say the Fed should stay the hell out of the stock market. It will take
>care of itself just fine. Meanwhile, I'll continue to short-term trade
>the long side until something changes.
>
>Contrarily,
>Dennis
>
>
>
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