Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: waverider who wrote (12065)	5/10/2002 12:42:53 PM
From: SliderOnTheBlack	Read Replies (2) of 36161

["- IBM plans to lay off 2.5 percent of its worldwide staff "] ...and this is just the coming tip of the iceberg in corporate layoff's & cutbacks. The collapse in US Tax receivables of -23% signals the continued earnings collapse of US Corporations which are being smothered by debt. Add the shiny disenfectant light that is being shed on the "quality of earnings" issue and the backlash against any & all forms of creative & aggressive accounting...and there is a bigger "show me the money" - Earnings crisis than the market has built into expectations & earnings models going forward. US Companies (especially given DEBT LOADS) will act and act swifly to cut their the number #1 controlable expense - payroll & jobs...as they have no choice to do anything else. Ramping Unemployment will lead to what many og the Fianancials internal models are already showing - a coming explosion of deliquencies & chargeoffs in consumer credit. Unemployment and the cooresponding FEAR it creates - will put the brakes on consumer spending... coinciding with a tightening of consumer credit by the Banks due to the out of control collapse of the late 90's debt orgy. ...it's a viscious cycle. It's already started and it can NOT be stopped, or manipulated without exponential negative ramifications at this point... it must and it will play out - all on it's own. Any attempts to manipulate, or postpone it by the FED, or the Banks will only ramp the already in place "perfect storm" fundamentals for Gold & Silver iho. ...GOLD & SILVER have truly entered the "can't lose" perfect storm - whereby they benefit by any continuation of the Mad Hatters Fiat Explosion, or by the coming acceleration of the debt collapse, bursting of the real estate bubble and the entire process of wringing out a near decade of fiscal & fiduciary decadance... GOLD: ....it's time has come ! Foi Est Tout ~ All "some of us" are going to do; is to sit back and watch it unfold... and say - "we told you so"...

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