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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

Jan 30 4:00 PM EST

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To: Enigma who wrote (56824)	7/30/2000 1:05:53 PM
From: PaulM	Read Replies (2) of 116944

It's not a coincidence that Clinton admitted an illicit affair with a whitehouse intern, which began a movement to impeach, on August 17, 1998 (as markets were entering a period of chaos resulting from the LTCM and Russian debacles). Clinton recovered from that scandal (so did the market). Anymore than its a coincidence that Nixon resigned in August 1974, at the the very bottom of a nasty bear market. People have speculated why these political/financial correlations seem to exist but I think what people are willing to pay for stock (stock index levels) are a good proxy for national feelings of optimism and wealth. When that wealth disappears, people start awakening to see things they seemingly hadn't cared about before. Or maybe the opposition begins to smell blood. I don't know whether Clinton's new problem will be a new scandal, or a continuation of an old one, but if we do see a crash we should see a scandal of political importance in proportion to the severity of the fall.

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