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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (12615)	3/14/2001 1:22:21 AM
From: Jim Willie CB	Read Replies (2) of 30051

a ditty on Japanese banks and stock implications Business Week reports a new bank accounting law enacted in y2000 all bank-held stocks must be marked to the market formerly, an insane allowance let them be marked at original cost what world do they live in? so in last few months, banks are unloaded stocks en masse my stated deadwaterline of Nikkei 13,500 is yesterday's news who knows what the real bankruptcy line is now? this has two big consequences in my view 1. much lower deadwaterline for Nikkei, far fewer bank bankruptcies, altho some will go down with recent sales and day of reckoning 2. a nearterm selling climax maybe has occurred already, or is days away in the rush to get it over with, which might allow for a real counter-trend rally in Japan, thus helping world bourses concur on federal surplus reductions soon felt 75% of fed revenue is from payroll withholdings unemployment is holding up better than I expected as long as it stays under 4.5-4.7%, tons of tax$, surplus continues unemploymt rate now stuck at 4.2% which is good I expect it to rise this spring and summer I dont think the wealthy will buy a new Lexus with tax savings more like stick it in money markets temporarily they have to be shitting in their pants also / Jim

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