I understand and sympathise with you.
Yes, you are right in that JD made a promo about Asia last summer. When everything was indicating a downturn in Asia in June & July 1997, JD made a special trip to Asia (to Indonesia and Hong Kong) soon after his bullish sessions in Grunewald, Switzerland. He came back from Asia and promptly declared that other experts were wrong in their prognostications about Asia. He believed the "culprit" for the Asian Crises was China which manufactured and sold so much and so cheaply in Asia that the economies of other Asian countries were hurt. He did not mention the relentless shorting on the Asian currencies by ruthless speculators, the sudden withdrawal of investment funds by investors worldwide and the flight of capital to the relatively safe havens of US dollars and bonds.
He was very bullish on Motorola and said that Motorola's bottomline will be greatly enhanced by its operations in China. He may well be right later on (2 years, 3? 5?) Who knows? The same goes for Ericcson. To be fair to JD, I should say he did make some good calls. But in the present market, which is highly manipulated (e.g., by the Feds' so-called Plunge Protection Team, JD seems to have lost his touch regarding certain stocks and so have many other market experts. But he certainly was on track in saying, last summer, that the US Market still has a lot of energy left.
I believe the Plunge Protection Team is in place to ensure that the good times are here to stay for at least another two years, i.e., until Slick Willie gets out of office. Slick wants to go down in history as the GREATEST PREZ OF THE USA!!! While that prospect is now in doubt, the present market will go down in history as the most manipulated market of the century. It will be easier to come to this conclusion if you would look at what has happened to gold. |
