Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: habitrail who wrote (2432)	7/17/2002 4:46:59 PM
From: Jim Willie CB	Read Replies (6) of 89467

article: Bubble Bubbles, Plenty More Troubles... by Mark M. Rostenko (really brilliant guy, former futures trader) Editor, The Sovereign Strategist www.sovereignstrategist.com gold-eagle.com excerpts: Bottoming process? Based on what? Hopes? Expectations? The incessant need to believe that the 401k simply must come back because it's just not "fair" to have such big losses? There is nothing, I repeat, NOTHING about the market that is even remotely indicative of a bottom. Nothing. Not one thing. Have I made my point? It's simply unbelievable, illogical and totally absurd. All throughout this bear market these clowns have continued to search for bottoms, to continually contrive "evidence" for the bottom. Why? It's a BEAR market. Why not look for where to sell the damn thing, and not where to buy it? ..... YOU CAN'T SOLVE THE PROBLEM WITH THE SAME TOOLS THAT CREATED THE PROBLEM IN THE FIRST PLACE. Let me put it you very simply: You can't lose weight by stuffing yourself with Twinkies and Ho-Hos. And you can't fix a deflating bubble by stuffing it with the same vapid, nutrition-less garbage that created the bubble in the first place. "Oh but wait! Housing is still strong! Folks won't stop spending because their housing gains offset their market losses!" Yeah. Tell that to housing stocks. Take a look at any handful of home builders. You'll note that most of their stocks have completed tops after extended climbs and have turned lower. Fannie Mae and Freddie Mac broke down big-time in recent weeks. Yeah, yeah, the government housing data still looks great. Then why are the housing stocks tanking? / jim

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