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To: d:oug who wrote (38115)	8/1/1999 9:10:00 AM
From: FESHBACH_DISCIPLE	Read Replies (2) \| Respond to of 116764

"Psychopaths" fuel US share boom-Germany's Schmidt SUNDAY, AUGUST 01, 1999 7:47 AM - Reuters FRANKFURT, Aug 1 (Reuters) - Former German Chancellor Helmut Schmidt said in remarks published on Sunday that U.S. share prices were being driven to unsustainable heights by "psychopaths" on Wall Street and that a slump was inevitable. Schmidt told Welt am Sonntag newspaper that the United States, despite being presented as a shining economic example to Germany, had a private savings ratio below zero and was creating an underclass of the working poor. "Many people are enthusiastic about the United States at the moment. But people don't realise that the share price boom is totally overvalued and that psychopaths are driving the prices up," said the 80-year-old Social Democrat who was West German chancellor from 1974 to 1982. "It's only a matter of time before the boom ends and prices tumble down again -- just as it happened in Japan." Schmidt said that by psychopaths he was referring to "the young 30-year-old dealers and 40-year-old fund managers who with their daily and hourly fund allocations have no other aim than to get the best possible performance." "These people lack an overview of the world and world economy and also of the responsibility that entails." Schmidt said the euro's depreciation by as much as 15 percent this year did not signify that the new currency was weak. He said he had witnessed the dollar trading at 3.47 marks and at 1.36 marks in the space of 1-1/2 years. "No one ever got the idea that that meant the mark was weak."

To: d:oug who wrote (38115)	8/1/1999 9:37:00 AM
From: Hawkmoon	Read Replies (2) \| Respond to of 116764

Douk, You seem to make quite a hobby out of having fun at other people's expense. But tell you what... If I run for office someday, I want someone like you to be my official food taster and bullet catcher. From the moment we have "knowned" each other here on the GPM, I knew that one day I'd find a use for you. What better way than to have you be my safeguard from those seeking my demise, most of whom you'd probably already be acquainted with... :0)

To: d:oug who wrote (38115)	8/1/1999 10:05:00 AM
From: Bobby Yellin	Respond to of 116764

Doug I don't see how you can compare Hutch's contributions with the other. Hutch might be right or wrong but he does his own analysis and is the opposite of a parrot..(i had one once..my brother-in-law dumped the poor bird on me..under the guise is was quiet and spent too much time alone..needless to say since I believe what goes around comes around.) A lonely neglected parrot squawks and squawks his head off and if you leave him alone..he squawks even more.. At this point, even people have bashed bill murphy so the thread no longer has his commentaries to help explain what he thinks is going on behind the scenes..what contacts he has.. Hutch shares his wealth of analysis and doesn't have an emotional connection as to whether gold goes up or down..he doesn't spout the same claptrack that the other does.. everybody has their own style in expression.In the golden age of Rome it was frowned upon to have false modesty..I have heard in the Netherlands it is frowned upon to say you have money..blah blah blah Please explain yourself more.. I do very much enjoy your posts..they help let off steam but they can't rid of gas.