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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 234.70-1.2%Nov 14 9:30 AM EST
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To: Victor Lazlo who wrote (110701)10/17/2000 10:52:40 PM
From: GST  Read Replies (1) of 164684
 
Oh Victor: OK, here it is:

You say: "it's much better to export aircraft engines, computer operating systems, and pharmecueticals and import shoes, oil and lumber than the other way around! Look at all the goodies Americans are able to lavish upon themselves now! And pay later!! It's great!!"

But the facts say otherwise -- we even have a trade deficit in high technology goods -- did you think all those computers and related stuff are made in the US? We require foreigners to send us $400 billion per year to balance our books -- what happens if they ever have second thoughts about committing new money -- god forbid they might even want some of it back.

You say: "look at Japan- do you know what their trade account is? And their economy is in the gutter. It doesn't pay. Those people are just saving themselves into a depression. They need to spend some of that dough!"

Japan is screwed up politically, and governments there have been plain stupid in running government deficits while refusing to open up their economy -- its true. But the Japanese private individuals have ten trillion dollars in savings -- I would not cry for them too hard. Compare the balance sheet of the average American and Japanese citizen -- do you think being knee deep in with an SUV in the yard is better than have a million dollars in the bank?

You say:
"most of the gold mining co's are now out of business from a dead market for gold. So retail investors should rush in here and buy gold and enjoy the kind of losses you have suffered??"

The miners are not bankrupt. They have reduced their cost of production and are profitable even at these levels for the most part. As for losses on gold shares, INTC is down by more in six weeks than my gold holdings over their period of decline -- not to minimize the decline which is a pain in the @ss -- but it is a drop in the bucket compared to the drop in "new economy" stocks. And they still have the gold -- the new economy people have cars and houses they can't pay for unless they were quick on the draw when the American public was naively saying "hey, take my money and do what you want with it, I am a believer, take my money and run".
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