Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: SliderOnTheBlack who wrote (12578)	5/17/2002 7:53:21 PM
From: SliderOnTheBlack	Read Replies (2) of 36161

SBC cuts 5,000 jobs / 6% of its workforce ~ This is what I knew would be occuring... earnings and "real" cash flow are down all across the board and companies are going to cut the most controlable expense they have - payroll immediately here over the next couple of quarters. This CISCO rally is insane. The same for DELL's positive numbers... All DELL, or Gateway have to do - is start loosening their credit standards and they can ramp sales rather easily - with bad credits (both corporate and consumer)... and that's exactly what they and many other companies are doing. IBM laid off masses, now SBC...and it will continue. The profits and earnings just are NOT there people ! Look at the TAX RECEIPTS collapse that the US Govmt and individual states are facing. In the Great Lakes Region... I've read in 6-8 middle American Cities about affluent suburban school systems in the midsts of budgetary crisis after crisis. We are in the throws of a debt implosion and it is not even close to being finished. Greenspan is trying to keep the pump primed by the GSE-Fanny & Freddy refi boom with his money supply pump and the banks & retailers are cooperating with easy credit, low, or "0" rates ...knowing that the US Consumer is a " credit junkie-addict" ...that they can not and will NOT say no - to easy credit... but, they will soon; because they'll have to... as bankruptcies, defaults and deliquencies are ready to explode. Greenspan has lost control... complete control and he knows it. We need to realize not only that he has; but that he also knows he has. All he is doing; is trying to save his legacy, create a retirement exit for himself and set up Bush-deux for another election/recession knee capper deja-vu all over again... So it is written... so it shall be done. Trade accordingly.

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