>KH co-authored "Dow 30,000" or something like that
>with pundit Robert No Relation Samuelson. Slightly
>wacky. I mentioned him here before for not being
>aware of the "S" in OASDI.
Wrong asshole in Samuelson. It's James K. Glassman who's the co-author, and it's Dow 36,000. Basically their thesis is that stocks have been mispriced for centuries on the assumption that they're risky. But now we know that over the long term, stocks provide grand returns, short-term bumpiness aside, so their risk premium should approach 0. On that basis, the Dow should be at 36,000 today.
>. . . Jeremy Siegel of the University of Pennsylvania, Greg Mankiw of
>Harvard, Charles Calomiris of Columbia and Doug Holtz-Eakin of Syracuse . .
>.
>
>Don't know anything about Siegel or Calomiris.
Calomiris is on that Congressional commish that's going to recommend paring back the IMF and WB drastically.
Doug