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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.99

+0.3%

4:00 PM EST

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To: PaulM who wrote (4205)	12/13/1997 7:44:00 AM
From: Bobby Yellin	Read Replies (6) of 116753

yes ..another instance how,since less and less discretionary money is in the hands of the middle squished class, there is increasingly less demand and thus deflationary forces at work since fewer hands are chasing the goods. Now we will also start seeing it in Korea and South East Asia as they start getting rid of their workers and undistributing the wealth to a small sector. Didn't realize the implications of mergers in Europe which will vaporize more jobs in the states etc etc etsoforth. Also can't the SE Asia burst bubble destroy whatever manufacturing plants are left in the west since it has become so very cheap over there now and destroy even more jobs unless protectism doesn't start coming into the picture? It seems people are saying that the SE Asia won't hurt the states too much since we export so little there..isn't the importing of goods that might be further devastating to are manufacturing sector? wouldn't gold begin to soar as the y2k problem hits more and more people's attention..if people thought that the banking systems might collapse let along the elevators they are riding in..... News is beginning to leak out that the profits in some huge blue chips have been slightly cooked already let alone when more and more money is devoted to techies to fix the code rather than investing in new equipment..(I didn't read the article in the Wall Street Journal about IBM but at least finally some reporter brought it to the attention of the investors that without tax breaks and buybacks..the earnings reported by IBM wouldn't be the best and Lou goes to church everyday(maybe now we know why)... Also Microsoft might now delay its Windows 98 now that the justice department has stepped in after the barndoor has been opened for a few years..(even I am using the ie4 more and more..it doesn't crash like netscape explorer does and also there might be a bug in the communicator since it sometimes starts java opening on my system blah blah blah)..with Microsoft's delay..an increase in profits will be pushed further out... What safe haven will be left..one big put option? ps: (really loved your other post implying the government scrooging the social security holders who live too long(maybe that is why the government is pro pollution?)(also loved the comments that if the US is more stringent with pollution laws it would hurt the economy..what is more important..clear air or dying consumers..I thought dying consumers would have more of a longer term impact on the economy)(anyways those ss recipients will out number most of the population if they survive the pollution and will definitely chose officials who represent them..they will fix that problem later) if earnings have been driving this bull..what will happen to gold with collapse in earnings?

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