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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (18470)	6/24/1999 6:04:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

Les; What they don't understand was the cuts last year were excessive, and that intervention was nothing but a bandaid to keep the money monkeys who took over LTCM from paying for their mistakes. Using money swaps when the rates hit the low point they got into the market at a 8% discount to most investors as CreemSpans idiotic move dropped the dollar like a rock. And I said then when the dollar works it's way out of this hole Spam put it in with his slight of hand, then we will still pay that 8%, now taht it's up back up (the $ ) they are taking profits, . The thing is it's crooked as a snake but not against the law, and the dumm ass democrats can't see the forest because all they look at is one tree. AS far as the FED upping rates now, crap the horse has already been stolen, either way you lose because you can't undo the excess of last year, thinking it can be done begs the question of where did the money go, as it's gone. ( I know where it wound up and it's just gone it was spent on high living and over building of plants in Asia that are now sitting for the most part idle or churning out chips at a loss because they built like crazy and ( on credit) before they had enough market. If he don't up rates we won't sell bonds to float this cockeyed system, if he does it will slow things down, this is a no win situation because you can't undo the excesses of the past by playing GOD with some money, you only get out of the whole with work, and here again is where the other side goes nuts..they freak out if every one has a job. ------------------- Any way either way we get shafted because of the stumble bums that have for years thought there was some way to make it all work, without work. From the Yen carry trade to the mountain of derivatives none of which do one thing to help out the economy except to relive it of the fruit of it's labor, and to tax it to it's limit. We are faced with rasing interest rates or shortly not having the money to fund the Government, I'd like to ask them arse holes if they will take a pay cut ! Jim