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Gold/Mining/Energy : Gold Price Monitor
GDXJ 106.70-0.3%Dec 5 4:00 PM EST

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To: Bobby Yellin who wrote (38937)8/19/1999 12:25:00 AM
From: PaulM  Read Replies (2) of 116796
 
Agreed all around. Re: Sacrificing the Real Economy to Financial Markets,

Bloomberg reported today an explosion at Poland's largest oil refinery. This follows story after story about oil refinery fires and other malfunctions here in the U.S. This isn't all just coincidence.

What it is is another example of insufficient expenditure on basic, crucial infrastructure resulting from artificial pricing. There appears to be UNDERcapacity in much of the petroleum industry in Europe and the U.S. (and refiner profits are still non-existent), and this undercapacity will likely cause huge problems in the coming years.

By contrast, the mutual fund industry provides more mutual funds than there are stocks trading on the NYSE.

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