> G'day Bob,
> Doug's probably fast asleep just now, so here's an interesting piece he
> posted on his list the other day.  I'd be interested in Thaxist views on
> this meself.
> Cheers,
> Rob.

Well this stuff seems to confirm what the economists are putting out very politely 
these days as a warning. I think the key in all these things are a couple of things. 
How much institution speculation is involved and when the bubble bursts what will it 
drag with it. The institutions (pension funds, trade union funds, insurance funds 
etc.) seem to have a policy of "basket investment" laws which say not more then a 
certain amount of capital can go into one basket. But with the blow outs in Asia and 
now the coming blow out in IT stuff could put a pretty big dent in these institutions 
causing some big crashes.

The other question is if the Fed can garantee this stuff? When the over inflated 
swedish economy busted it took the destruction of the welfare state to bail out the 


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