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The attached spreadsheet contains the Margin Debt & Credit amounts for
the NYSE from Jan 92 to Feb 2000 with monthly closing prices for the S&P
500. While it is not immediately clear from the charts, the free credit
balances are very low in comparison to the numbers for margin debt. If
anybody has ever went overboard with their Visa card, you know what is
going to eventually happen. But then again when we get in debt over our
heads Alan Greenspan does not come to bail us out. I think what he has
done is to successfully transfer the national debt to the stock market
(where it does not show up on the Gov's books)
Ron McEwan
Attachment Converted: "f:\eudora\attach\margindebt.xls"
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