Unfortunately we will be GreenSpaMMMMMed again Tues, AOL to <$100, Long Bond >6.3%, Wait until Wednesday then start bottom fishing.
I am,
Truly yours,
-Crystal ball
P.S. Lets us all be duped and sign the praises of our enemies, and how clever Alan Greenspan and Larry Sommers must be, since they say so themselves (too often lately). When Japan two weeks again supported the dollar, to keep the YEN low, in order to prevent cheap dollar US imports into Japan (our Export effort), that should have told the world the true story, when Larry "Doldrums" Sommers and Alan the Alien GreenspaMORE (never heard of Moores law) provide an additional assit by creating inflation, by increasing interest rates, first by pushing out the printing presses at treasury to sell bonds over 6% last couple weeks, and now next Tuesday at the Fed to bump up Fed rates to 6.25% or more, its no wonder the corporate bonds (Corporate issued debt) rushed out to try and get money for the rainy days to follow, by also joining in and offering higher rates of return, in effect the inflationary spiral has begun. There is no thing as a free lunch. These higher rates will be passed along to the consumers (apparently that means only US and not the Japanese and China Technology Clubbers), passed along in the form of higher prices, maybe higher wages or poverty, or less buying and a crash, maybe deep recession, since if you can not afford it, either you buy and die (bankruptcy) or do without, and that slows done production and the need for production and in effect, WIPES OUT THE GAINS IN PRODUCTIVITY CREATED BY THE INTERNET and high tech's contributions to efficiency in the distribution channel in general. Thank you GreenSpammer and Larry Summertime Blues Man, just what America needed, another recession, another higher interest handout to bribery ridden and corrupt asian economies and asian political cronies.....as Neil Young sang..."Must be Friends of Yours..." AG.
My guess is the next time this comes around, WE, the TechNOVO Riche, we will undo Bretton Woods and simply say "No". Its OUR money.
In the meantime, I should not complain, seeing it coming I have made moer money than I would have on a typical upward long market, having bought and sold AOL for example many times over. But I ask myself, what kind of a country will my children inherit, what kind of a country will it be when I start spending this money. How long before my gains are wiped out by inflationary prices, or another Oil Embargo or like crisis. Again, many thanks to the Fed and Treasury on the fine job of ending American Prosperity, cause the Russians couldn't do it in the cold war, and the chinese couldn't steal it either, only we BRILLIANT PEOPLE could simply give it away. Thanks again. IMHO they should both be impeached, or Larry should not have been confirmed, write your conressman or US Senator, but I doubt they will understand what drives the market, since most people in the market are blinded. |
