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Dear James,
I am a 51 year old "Boomer". Are you a revisionist history teacher?? The
"Fed" was created in 1912 to help avert market "panics". Do we need a
Fed today?
What bubble? Have you ever looked at the percentage of U>S> debt in
relationship to GDP? Have you ever compared that percentage to the other
100 or so countries in the 1st world that keep similar accounting?
Economics is somewhat like politics, the fringe elements get watered
down. That's the Feds job. There's so much talk about this nouveau
"Tulip Bubble" that any contrarian must be licking his chops.
I remember when the DOW was at 650 or so in 1980/81 , real estate was
king, inflation was huge. I paid a bank 211/2% to get a construction
loan to build a house.
Now, that was a bubble.....
We may well have a major correction.
So what? I made 71% on my retirement mutuals last year, I can take a 50%
retracement. My creditcard bill was 1500 last month, I DON"T carry a
balance . I pay as I go. The only bank I beleive in is my bank. I don't
need to borrow money.
I am not alone.
I apologize for the non trading dribble. This thread is 2 days old and
needs burying.
Good Trading,
Rick
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