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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Jorj X Mckie who wrote (6359)6/27/2002 11:28:40 AM
From: Enigma  Read Replies (1) of 33421
 
No one is suggesting that the current administration is solely responsible - but some of the key players mirror the ethos which has lead to our situation. And I notice the Caveat Emptor sentiments being expressed here. OK - but the general corporate culture is the issue. I have little sympathy for people who lose on a gamble, but I do sympathise with employees whose savings are gutted by crooked management, who seem to get off scott free with their ill gotten gains.

And there's also a comfortable view being expressed here (with exquisite 20/20 vision BTW) which goes something like this -'it's all part of the swing of the pendulum, don't the suckers (those less wise than us?) know that? And, why, don't you see, theres a bit of a buying opportunity presenting itself - it only the suckers realise it.

What happens if this is the real thing - a long drag out bear? Will we all be mouthing the same comforting platitudes over the next few years as we have rallies and ongoing downward reversals, and the economy goes into a spiral.

We should realise IMO that in a fundamental way it is 'different this time' - when before have we had scandals involving the cream of the accounting profession? How can we believe earnings reports and projections? How long before confidence is restored?

For how long will the populace rally behind the 'war on terrorism' and keep their blinkers on? BTW I saw a poll result yesterday saying that only 30% believe the war is being won! How can they believe it when Rumsfeld, Ashscoft and Cheyney/Bush are scaring the bejeezus out of them on a daily basis? What after all did Afghanistan actually achieve? Precious little from what I can see and a great deal of destabilisation to boot.

Interesting times? For sure!
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