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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: marginmike who wrote (50117)4/17/2002 1:10:12 PM
From: Jim Willie CB  Read Replies (1) of 65232
 
MMike, you big coondog... wealth stripping is in 6th inning
it began with the dotcoms
then onto the techs and telecoms

no way, JoseMariaMikey, not done by a long shot

next up are bondholders who will be separated, but not stripped
as the USdollar slides backwards, rates will rise on shortend

this will hurt all heavily liquid bond holders on shorterm horizon

but its effect will be doubly painful for corporate america
which has swapped much of their longterm debt into shorterm
by using SWAPS
they have been drawn like Sirens of Ulysses toward lower rates on shortend with SWAPS, which will squeeze their balls in a vise soon
which in turn hits the earnings bottom line
but not in proforma statements
(last year I saved 100% of all income proforma)

I expect zero improvement to corporate earnings

the stripping will be to all remaining leverage players
if they believe big stock recovery, they are stripped clean

Mike, have you read any of Puplava's work?
been providing links here and there lately
in early 2001 I said repeatedly "follow the debt"
we are nowhere near done in the debt collapse
middle innings at best

still got gobs of gold?
diversifying into silver?
I believe silver will triple the golden gains
and silver will go even higher when we run totally dry by 2005
/ jim
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