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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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To: Ann Corrigan who wrote (3138)	3/3/2002 10:08:07 PM
From: Crossy	Read Replies (1) of 37387

Hi Ann, sorry for my ranting but Gilder echoes my libertarian stance pretty well. He critizices the administration for resorting to Nixon like "command & control" approaches, if not policies then at least rhetorics. The only problem is that I think what made your country great are the market economy and the notable value freedom. If those historically championing those assets suddenly act in stark contrast to these tried and true principles then there's no one left to defend those merits (which appear rather important to me and I dont't think I'm alone here) Just look at the new "bipartisanship" basar-trading taking place. One of the first "outcomes" is the Tauzin/Dingell bill, think about it as corporate welfare medication in support of the ILECs (baby bells). Deregulation IMHO doesn't and shouldn't mean re-monopolization. Local monopolies aren't much better than AT&T years ago. If Tauzin/Dingell passes then it will amount to a formidable roadblock. The "assymetric" regulation is not a US specialty. Near every other country experimenting with local loop unbundling has in place an arrangement like this. gilder of course knows this. If the FCC cements the ILEC grip to the local loop then it will preserve their near-monopoly for let's say another 2-3 years. For IXC companies and for CLECs this means even rougher roads ahead.. Finally Gilder shifted my attention to deflation. In fact there WAS deflation last year and it looks like being resolved. Larry Kudlow and J. Wanninsky had some solid writing on this topic. What signalled me the end of deflation was the small increase in gold price (and even more other commodity price) levels. It's funny that other parts of the world look brighter to me now. Consider Russia, where a FLAT TAX of 17% was recently introduced to replace the former progressive income tax (with a top bracket of 37%). Russia doesn't experience ANY recession right now. There are 2 nice ADR's traded in the US which I think are worth a purchase : ROS (Russias top IXC, sort of an AT&T clone) and TNT (Russia's Exxon so to speak). Congratulations to President Putin for his excellent leadership. I raise my hat ! Well, then there's Japan. There's a "NIKKEI" thread here where I do contribute more heavily recently. My investment premise there is that even if devaluation is looming in Japan, Exporters shouldn't be affected at all by this. Those exporters operating in truly global markets should enjoy a nice uplift in their respective segments. I identified some Japanese companies, mid cap plays so to speak in semi, semi equip, photonic, chemical, biotech and industrial markets that should enjoy a nice uplift from the strong pan-Asian demand and from the increasingly robust US economy.. best rgrds and thx alot CROSSY

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