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Gold/Mining/Energy : Gold Price Monitor

GDXJ 107.29

-0.9%

Dec 2 4:00 PM EST

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To: Chip McVickar who wrote (72029)	6/20/2001 10:54:42 AM
From: Rarebird	Read Replies (3) of 116791

<Some equity weakness for awhile then another leg to the world wide expansion just about to begin...!> Hi Chip! The conventional wisdom is that six months after the beginning of a rate cut cycle, we should start seeing benefits. But it's been five solid months since the Fed began cutting rates, and we're not seeing much. Instead, the market has received a reality check in terms of fundamentals and what it looks like for growth in tech over the next couple of quarters. Business clearly has not turned positive yet. Here is the fundamental reality of the American Economy: it is no good. It is no good because most people have no money to spend. They have no money to spend because they have bought most things on credit. The Bush tax cut will be used to primarily pair down debt. PS I think the pure technical types need to get out of their Ivory Tower Chartist World, shut down their computer and go outside and talk to some real live human beings and find out what is really going on.

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