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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: jim_p who wrote (3260)	7/30/2001 6:04:21 PM
From: BigBull	Read Replies (1) of 206089

jim p. I seriously question the relevance of those growth numbers, particularly wrt Asian growth. Asian industrial production is right now rapidly contracting. Take a look at these numbers from Korea: ------------------------------------------------------------ koreatimes.co.kr The quarterly growth rate for industrial production was estimated at a mere 1.7 percent during the April-June period, down from 5 percent in the first quarter. The growth rate continued to slow down from 8.8 percent in February to 6.4 percent in March, 5.6 percent in April and 2.3 percent in May. ------------------------------------------------------------ Korea was in many ways the star of a resurgent Asia after 97 - 98 debacle and imo serves as a yardstick for measuring Asian growth. Just look at that rate of decline! From 8.8% to 1.7% in six months! While Asia may AVERAGE 2.6% GDP for 01 - that number doesn't nearly represent the CURRENT picture - AT ALL! Asian growth is truly falling off the proverbial cliff. Euroland will soon follow. Imo OPEC understands the true nature of this rapid contraction somewhat better than Raymond James. Hence the necessity for the additional cut. In my view, many asian countries are in recession or will be very soon. BTW My bet is that US GDP numbers for the last QTR get revised to negative growth. I truly hope 3rd qtr is better but I have my doubts as US exports will really begin to feel the bite of a higher dollar and slowing world demand. This WILL markedly affect oil demand.

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