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Pastimes : All Clowns Must Be Destroyed
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To: wlheatmoon who wrote (5729)2/1/2000 2:16:00 PM
From: pater tenebrarum  Read Replies (2) of 42523
 
Joe Kernan of CNBS just informed us that it's possible that the NAZ has now finished 'consolidating it's gains' and it will be onward and upward again from here...so i guess we better buy so as not to miss out. that's the subliminal message transported by GE's bubble cheerleading arm anyway. this morning they had two economists on who were insisting very eloquently that we're NOT in a speculative bubble. that was just in case anybody wondered about that. no they said, it's a new paradigm, and the economy has never been as fundamentally sound as it is now. i guess an all-time high in private sector indebtedness, a negative savings rate and an exploding current account deficit are typical of sound economic fundamentals. likewise a NAZ p/e of 200 (much more if earnings reports reflected reality) is a sure sign we're NOT in a bubble. i mean, the NAZ traded in a 15-30 p/e range for decades, which clearly was an aberration.
the propaganda put out by that station is simply amazing...
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