>Let's hope I'm wrong, but the outlook seems bleaker than it did
>during the Vietnam era. For one thing, due to 9/11 Americans feel
>personally threatened now in a way they never did during the Vietnam
>war and are obviously more willing to countenance any amount of
>aggression in the name of "defense."
Yeah, but an awful lot of people are saying that the war will make us more vulnerable to terrorism, not less. There is tremendous skepticism about the state - unlike the early 1960s, when everyone believed everything the government said. There's an active and massive peace movement - it took years for that to develop during the Vietnam war. And though it looks like the U.S. is on the top of the world now, remember what Mike Milken used to say - the danger of a AAA credit rating is that you've got only one way to go. What if unchallenged U.S. superiority is the last surviving element of the bubble days?
My secret gurus at the Elliott Wave Theorist say the bear market is about to resume in earnest.
Doug