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Pastimes : Kosovo -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (13137)	6/30/1999 1:22:00 AM
From: the gator	Read Replies (1) \| Respond to of 17770

Yes you are right the violence must be stopped both ways it will be like our civil rights movement hell that is still going on ignorance is a pitiful thing. BTW my apologies for the Texas remarks I play softball with this great little girl from Buddy Holly town (Lubbock) but when you live in a tourist town man they can grate on you after awhile. As in bombing when you generalize you sometimes hit the innocent. Gee havn't heard too much from the far right kooks after bringing up Dan Quayle's moral hero Kirk Fordyce another one of the "moral elite". Enjoy Mesa Verde it sure is beutiful here in the summer just played softball on a beautiful Breckenridge evening kind of makes you feel guilty living here (until winter that is)

To: Douglas V. Fant who wrote (13137)	7/1/1999 8:17:00 PM
From: goldsnow	Respond to of 17770

China's Political Skies Darken, Chilling Stock Markets Shanghai--July 1--China's changeable political climate has produced a squall of revolutionary-era rhetoric over the last two days and moves to pull the plug on Chinese stock markets' bull run. Equity investors' euphoria, which produced dizzying gains over the last month and a half, came to a crashing halt today, the Shanghai A- and B-share indexes plummeting nearly 8% and Shenzhen A-shares bleeding just as heavily. Rumors that China's No. 1 economic reformer, Premier Zhu Rongji, is being pushed out of power continue to swirl, reinforced by a chilling speech by President Jiang Zemin on Tuesday. Speaking at a forum in Beijing to mark the 78th anniversary of the Communist Party of China's founding, the President criticized party members who have deviated from the "socialist path," according to state-run Xinhua News Agency. Jiang also hit out at the rampant sales of state assets, which he said harmed "the economic foundation of the country's socialist system." He had issued a similar warning last year after provincial and local authorities were found to be selling off stakes in state-owned enterprises (SOEs) and other assets at valuations deemed too low by central authorities. Such transactions gained pace in early 1998, after Zhu, at the time the country's Vice-Premier, said the selloff should be completed within three years. The change in the political climate is reflected in the hardening of Beijing officials' attitudes toward World Trade Organization (WTO) negotiations with the U.S. Many observers are worried that Zhu's economic reform program has come under heavy fire. The change is also chilling China's stock markets. Previously, Beijing had tried to spark domestic consumption by supporting bourses through pro-market editorials and cuts in deposit rates. However, the official press is now casting doubt on the wisdom of such moves. A front-page article in the Economic Information Daily today says China's stock market rally has no basis in economic fundamentals, while government moves to boost share prices are not likely to succeed in stimulating consumption. Investors' unease coalesced when Beijing took concrete action today. The government explicitly ordered key institutions to stop buying equities, according to a senior official with a domestic fund-management company. "We have received a notice from the China Securities Regulatory Commission and the Securities Supervision Office," he revealed. The document, a copy of which the official personally received, says the recent climb in stock prices is "already relatively large" and has raised risk. It urged recipients to "stop boosting share prices." The official notes that the notice went out to only the largest brokerages and fund-management outfits, with immediate results. "Today, all the big institutions stopped buying," and started unloading stocks in anticipation that the rally would collapse without government support. The markets' hemorrhage was exacerbated by rumors that the government will flood bourses with "legal person shares", possibly within the next month. Legal person shares essentially represent the government's equity stakes in listed SOEs. On average, they account for some 70% of listed SOEs' share capital. However, Beijing today moved to squelch talk that Zhu is on the way out, Foreign Ministry spokeswoman Zhang Qiyue calling it "sheer nonsense." Asked if there had been any change in his responsibilities, Zhang says: "The rumors about Premier Zhu Rongji are completely without basis." The denial was hardly convincing as investors ran for cover today, leaving massive losses in their wake. By Rob Delaney, BridgeNews businessweek.com