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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: marginmike who wrote (68309)	2/16/2001 7:09:02 AM
From: Earlie	Read Replies (4) of 436258

MM: The mobile phone business still turns volumes that are decent, but the market is saturated, plain and simple. Inventories tell the tale. They are huge across the whole distribution chain and not being reduced. Pricing is in free-fall and profits are under severe pressure. There is far too much capacity. Anybody in the business will tell you that it has long since reached the commodity stage. With respect to the old economy, I do not agree. World-wide shipping is slowing, auto production is being reined in fast, aircraft seat ratios are falling, tool and die back-orders are plummeting, and plants that produce products from paper to soap to shoes to furniture are being closed or put on reduced production schedules. Truck manufacturers are being inundated with big rigs that were sold under mortgages (many are) that have simply been returned by guys who can't find enough paying loads to make the payments. Look around my friend,...... the signs are everywhere. And you can't have a net 35,000 job-loss PER WEEK rate for long (as is currently the case in the U.S.), before things start to unravel. I agree with owning gold stocks. (g) Best, Earlie

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