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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures
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To: Chip McVickar who wrote (2107)7/23/2001 1:28:26 PM
From: Raymond Duray  Read Replies (1) of 12411
 
Hi Chip,

Here in the Northwest, we seem to be in pretty good shape on the real estate front. Though I do wonder about the number of new buildings being thrown up here, whilst any number of commercial shells from the last generation of big box retailers moulder on the commercial strips. I guess it must be "good for the economy". Residential real estate seems to be relatively healthy, though by no means a seller's market.

Re: If the financial markets stumble further then this country will drop into a long term recession.
I'm not getting that sense. Aside from the obvious financial market folly in telecom infrastructure, I don't see other huge catastrophes, or even dislocations occurring. We seem to have turned the corner on short energy supplies. Surprisingly, it's the PJM electrical grid just south of you that is the highest priced on the spot and day ahead markets right now. Natural gas is sputterring around in the $2.90's per MCF for the past few days, on it's way down to the low $2's, I'm predicting, and OPEC is considering an inter-meeting conference call to cut production. I just don't see anything huge on the horizon, and I do feel that the slump in techland, while devastating to certain players, isn't going to translate into a systemic catastrophe.

JMVHO, Ray
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