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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Bobby Yellin who wrote (13492)	6/20/1998 1:25:00 PM
From: Little Joe	Read Replies (1) of 116764

Bobby: Ignore previous post, I just found the Coleman article. It was right on my desk in front of me. See I told you I'm getting senile. I won't even be able to tell them where to send the social security checks at this rate. I think the most interesting part of Coleman's comments have to do with the fact that the supply of oil measured in years of supply remaining is increasing. He may be right to use this as a measure. Most of the analysis I've view it from the point of view of units of oil left and paint a more dismal picture. I think he has also helped me to understand why these long term cycles as we are now seeing in gold and the market don't reverse as quickly as we might expect. The effects of a lot of these misguided policies just take a lot longer to work their way through the economy than we expect. To put it another way maybe we just underestimate the ability of the government to prolong the agony and take the medicine. Live long and prosper, Little joe

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