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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: Tommy Dorsey who wrote (3630)	12/25/1999 12:21:00 PM
From: c.horn	Read Replies (2) \| Respond to of 9427

My parents were partners in a supermarket when Nixon put on these controls.. My father was just talking about this with me the other day. He said that the Slaughter houses started coming out with all these weird cuts of meat to get around the controls. There were names like Nebraska Cut, Kansas City Steak, The Minnesota and a bunch of others. Turns out they were real names for product in the 1800's. The government just overlooked them because they weren't being sold at the time.. <ggg> It was a clear illustration of how these types of Wage and Price controls do not work. BTW: Nice job on CNBC last week.. C

To: Tommy Dorsey who wrote (3630)	12/26/1999 11:52:00 AM
From: Hardline	Read Replies (2) \| Respond to of 9427

Although I personally despise Wage and Price Controls, it does help investors to make money if you understand the impact. I recommended the book Economics in One Lesson which was written way before the beef situation mentioned. I remember in the early 70's price controls were imposed and eventually wholesale costs exceeded retail prices forcing retailers to not carry beef. In the early 1980 the cost of money in the banking industry rose so high that it was cost prohibitive to lend money and in fact some lending institutions suspended lending and began offering discounts to older low yield loans. In the long-run firms will shut down operations. Since history repeats itself, you will see the same impact on the drug industry. Hardline