A Jackass, his PAL(indrome), and GOLD Message Board

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Pastimes : A Jackass, his PAL(indrome), and GOLD

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To: Jim Willie CB who wrote (85)	1/11/2003 9:58:26 AM
From: SOROS	Read Replies (1) of 1210

I see this as very simple. The massive amount of fed printing presses combined with zero down, zero payments for months or years, keeps providing cash to the market TRADERS who keep shorting and then going long when those squeezes develop. This is why there is such volatility. What used to be investment has turned into a SHORT-term trader's market. You've got thousands of these parasites watching momentum and jumping from ship to ship faster than Jim Willie goes from girl to woman and back to girl. What will finally end this liquidity-fueled market and begin the real drop to normal valuation levels (suicide levels for those that "believe in the market and believe in themselves" ala JPM and associates)? I suppose the debt would eventually implode the whole thing, but it may get preempted by Iraq or N. Korea. Funny what a few hundred thousand casualties can do to an "irrational exuberance" party that has been going on since Greenspasm actually had some sense and perhaps even a moral compass. I guess we'll see the 200-day averages pierced soon and CNBC will break out the party (dunce) caps. Then the rest of the financial (bought and paid for) press will convince "mom and pop" investor that the new bull market has for sure begun. They will then give permission to use what's left of their cash to feed the frenzy -- since it's now safe to do so. This will result in the average investor being sucked in near the top once again. Then we get a rogue event or a simple breakdown from the sheer weight of the debt-fueled lunacy (while the almighty dollar continues to be seen for the streetwalker it has become -- even the tempting exterior now shows signs of the disease within). The entire drama will not be pleasant for anyone. Combine this with a nasty N. Korea response, and we could have a very tough few months or years directly ahead. I look for this all to get so nasty that someone in Europe will step forward at a point of sheer depression and pandemonium with all the answers to "fix" the problems. Everyone will line up blindly, but that is for another thread. I remain, SOROS

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