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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: Monty Lenard who wrote (24452)9/1/1999 10:05:00 PM
From: James F. Hopkins  Read Replies (1) of 99985
 
Thanx Monty; That's a keeper, but what really sends the market for
the big tail spin is banks and such keep non performing debt on their
books as if it's an assest for as long as they can. About the time
one can't hold it any longer other find they can't.

I think in 29 it was the huge debt owed to the J.P. Morgans and
such who financed England & France in WWI , well that debt was
called an asset and even after they couldn't pay the interest
on it it was held it as an asset, and used it as collateral for
buying stocks , at some point they knew they had to produce some
real money so just before writing all the bad debt off they sold.
It's interesting to note that President Hooover was big in
Stocks, but somehow sold right at the top.
Jim
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