Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: stockman_scott who wrote (3402)	7/29/2002 11:49:55 AM
From: Jim Willie CB	Read Replies (1) of 89467

again economists fail to see far... stock decline is ominous we have learned for 30 years that the stock market indexes provide excellent and reliable leading economic indicators unless the direction of the stock indexes is not consistent with the politically and financially inspired economist misreadings !!! I believe the stock market declined for a few reasons - lost confidence and trust - questionable earnings reporting - poor future guidance - declining dollar - rising bankruptcies - flattening money supply - extinct capex spending - increasing reliance of debt-ridden consumers (weakest link) the press/media only reports on trust and accounting they now are putting out horribly irresponsible reports that the stock market will follow the economy daaaahh!!! other way around, NITWITS the stock market has greater collective wisdom and foresight than any single economist or single group the stock market is now issuing dire warnings the bank and chip sectors are not leading anywhere so disregard the messages, and believe the cheerleaders? no way we are told that the wealth effect was not as big on the upward path so now it will not be so important on the downward path this ignores the Stanford guru's research years ago that claims the downside wealth effect is far more powerful than the upward wealth effect he called it the "asymmetric wealth effect" no, dont believe the people believe the market the dollar decline is like a big bathtub seeing the plug pulled out, which allows the water (capital) to drain we are now at a critical juncture gold has corrected, stocks have enjoyed cover rallies but what next? bull birth process? hardly late August and September is crunch time for the stock market and for USdollar our federal debt is rising our trade gap is widening our laws are more protective tension might be building in the MidEast soon bankruptcies and debt failures are accelerating and lawsuits might soon become a tidal wave on WallStreet bankruptcies are accelerating at all levels / jim

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