thegreatcrash.com press release

[Zack Exley]

Yes, it could go on for many years, but my point is that it must come to an
end someday--with a great crash.  The argument has been made many times in
many books.  One of the best was The Great Crash by Galbraith.  But after 87
he did a great little "Brief History of Financial Euphoria in which he
covers every major bubble from Tulips to 87.

The problem with predicting a crash (something left has always tried to do)
is that you are often wrong.  And each time you're wrong all your middle
class friends and family who acted on your advice and pulled out of stocks
are pissed at you.

So my plan with thegreatcrash.com is to not predict when, but just THAT it
will come someday.  As long as I crank out my "Crash of 200X" paraphernalia
each year, I'll eventually be right, and have the chachkas(sp?) to prove it.
It's just an elaborate joke, of course.  But I'm really going to sell those
shirts and posters.

I think the financial press will pick up the web site as a story for a few
minutes one of these days.

-----Original Message-----
From: owner-lbo-talk at lists.panix.com
[mailto:owner-lbo-talk at lists.panix.com]On Behalf Of Jordan Hayes
Sent: Tuesday, January 04, 2000 5:55 PM
To: lbo-talk at lists.panix.com
Subject: Re: thegreatcrash.com press release


> Hey Jordan, why's he all wet?

He defines a crash as a 60% drop from the peak that stays below
50% of their peak until the end of the year.  Can that happen?  I
don't think so; today was a nice fall (those Jan 720 OEX calls were
down $20, but closed at $50 -- still a nice run from the $13 in
October), but watch for the bounce tomorrow.  My only question
remains: where will all the cash go? Just because the market took
profits today doesn't mean that there won't be another few $B
rushing in tomorrow.

What are they going to do, buy bonds?

/jordan