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Strategies & Market Trends : Precious Metals mutual funds (gold, silver, PGMs)
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To: Richard Mazzarella who wrote (290)2/27/1999 11:52:00 PM
From: Larry S.   of 972
 
Richard, et al,

Every one should buy Barron's this week and read Eptsein's story about the budget surplus that isn't and Pesek's story about why Greenspan may not get another term. There are other goodies as well. I have complaining for weeks that the surplus wasn't real, our National debt increased last year, and I haven't been able to understand why the media hasn't questioned it. The surplus is only the amount by which 1) excess SS tax revenues exceed the general account deficit. I'm not sure which is more unethical, the President's proposal help solve the long term SS deficit problem by giving something to SS that already belongs to it or the Republican's proposals to use surplus that isn't as a basis for a tax cut. If you read this, please buy Barron's, get angry and write your representatives in Washington.

Barron's GMI was 302.73 on 1/25, down from 312.25 the previous week. With the POG up to 287.05 (2/26), the ratio is 1.055, down from last week's 1.09. It continues at a level that is nearly off the chart and in the range of values that strongly suggest the XAU will be substantially higher within a year. See post 9 on this thread for a reference to data on which this is based. You might also want to read my previous post in which I offer my personal opinion concerning the value of the indicator.

Cheers,
Larry
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