EDITORIAL
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I've had CNBC on as "background music" today. BAD "music". Same old song being played by different performers. Blah, blah, blah. I stopped listening to analysts a LONG time ago. Muddled my mind. Decided, either I tossed a coin ... or I rolled up my sleeves.
Bubbles gonna burst in this market guys. This is just the start. Oh sure ... there's gonna be ups & downs. But, the character's changed. And it's not ALL because of what happened in Hong Kong ... or interest rates, or inflation. Blah, blah, blah.
Y2K is a dirty, little secret that many companies still don't want to acknowledge. No one wants a paper trail. Everyone's afraid of litigation. SEC now requires divulging this. BUT, they only came up with this 2 weeks ago. So, there's still a lotta play. Unlike the UK, our government hasn't intervened. I get my best information on embedded systems from the UK. WHY? Because their government stepped in and forced the issue. This forced competitors to start working together to share information ... for the common good.
You see THAT happening here in the good ole USA? HA HA HA (Partisan Politics ... who cares about the common good of our country??)
US is ahead of Europe ... and trust me, where we ACTUALLY are ... it's nothing to be impressed about. Everyone talks about the Fortune 500 or 1000, and how far along they are. Fine. All well and good. But ... what about the little guys?? And, I'm talking about companies doing less than $100 million in sales. Everyone's been looking at these computers in their office ... and so, so few have been looking on the plant floor. The BIG guys will get hooked up earlier. And, these "smaller" guys are gonna have to wing it ... later. There's gonna be a lot of consolidating and acquisitions going on. The little guys are gonna get killed. Drives me crazy, that so few see it!
And Europe is focusing on the EuroDollar within 2 years? Will NEVER happen within their timeframe. HA HA HA ... EuroDollar has a deadline which can be extended. Y2K DOESN'T. All this wasted energy. All this wasted manpower. All this wasted money. I never read about it anymore. Cause I know it won't happen. This is pathetic.
Y2K & ASIA?? Don't make me laugh. Unfortunately, there's a cultural barrier within business which is causing a lot of the problem. Nothing is being done on any meaningful scale with Y2K.
Then we have Russia and the third world countries. Where do you think these guys rank??
We're a GLOBAL economy, guys. And, there are BIG, BIG problems out there.
Yardeini (Deutsche Morgan) changed his whole stance a few months ago. First, Y2K="No Problemo". NOW, good possibility of a mild recession starting in late '98.
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Anyone know how dominoes fall when they're lined up perfectly??
CYA already started. Check out Citicorp.
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How about that OTHER news release that just happened to come out early this morning: "FIRMS RESIST YEAR 200O DISCLOSURE"
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Oh, and I forgot ... that Tax benefit deal?? HA HA H
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Oh yeah ... There's that SEC "holiday" we're gonna get. We only get 2 days ... and the UK expects a month-long stock market holiday ... Hmmmm:
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C.K. HOUSTON'S PREDICTION: The US will start becoming an isolationist society within the next 2 years. Should start doing it sooner. |
