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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Lucretius who wrote (70030)	5/23/2001 9:45:40 AM
From: E. Charters	Read Replies (2) of 116762

"Way too bullish ..." On the other hand after the tech market slide and the expansion of the M3 to unheard of heights it's really Ok to go to sleep on the strength of the US economy. Economies are based on production, and earnings. What is the US producing and what do its businesses earn? You are way to confident in the economy, I wish in some ways your implied confidence was right. But it's scary. No need to be scared. If the credit crunch implodes and there is a depression, as all sign show, then there is always a way to make money. But paper IOU's from the US government will not be the preferred mode of exchange. There is something going on in the economy alright as I work somwhat peripherally to the surplus electronics industry. People are junking 5 year old computers at an unprecedented rate. Mainframes are being sold at 25 cents a pound that were worth 1000 dollars a pound ten years ago. But what are they replacing them with? Windows Millenium or Win NT has no reliability coefficient and will not do the job of the old software. New hardware is junk and some boards out of Korea have a 50% replacement rate on arrival. Where is this industry going? I certainly would not replace a Unix network with a bunch of Pentium 4's running Win ME, unless I had the software and hardware maintenance contract at cost plus. Microsoft is going to implode. Big time. It's stuff is going to get chucked out windows so don't be going by office buildings in anything less than a sherman tank in six months. I can see whole industries replacing all their computers with pencils and calculators and saving millions. Come to think of it, that might give birth to the Luddite backlash boom. EC<:-}

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