Re:

Highlights, 1. , the so-called economy is no longer well defined. there are too many diverse pieces„ both domestic and international. unemployment, corporate profits, technology upgrades, retail, housing, are no longer linked . add to that the fact that my dollar buys much more house in new york and much less in London.. so is my dollar inflated or deflated, that was a meaningless questions before it became apparent that i could do the exact same business, in either place. 2. There is an unprecedented amount of cash sitting this out, It has to go somewhere. 3.Our pension system depends on real rates of returns, treasurys cannot substitute for real returns.

Maybe I should quote you. What do you say?? I am also going to talk to Milken's economist -- this guy DeVos.

If you do, you should add that noribini and Soros and the voices of doom , conveniently forget that they have been singing the same refrain for the past year , all the while as the market has rebounded substantially/. If you want Leon Black to confirm that at least so far , for the past year, I have been much more right than wrong , espscially currencies , I can ask if he will speak to you.

Let me see if I can get Milken first. I only want to quote one drexel guy.

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