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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (1419)	10/5/2000 10:37:12 PM
From: I_C_Deadpeople	Read Replies (1) \| Respond to of 4409

Well, I was going to ignore your response as this is really not the place to have a pissing match, but, since you called Prechter an amatuer, I will respond this one time. Firstly, You do not have to believe a word Prechter or any other wave theorist has to say, but at least have some respect for the work they do. I surmise from the tone of your posts that you like to argue much more than discuss, but try your best to not respond as I will ignore it anyways. East LA?? Man, I live in Canada, eh!! My opinion of the 50's was based on the following (comparing Elliotts' Wave III, 1942- 1966 to Wave V , 1974- today. Real GDP growth: 4.2% for wave III, 3.1% for Wave V. Unemployment, Wave III average = 4.9%, Wave V average = 6.5%. Prime rate avg., Wave III = 3.9%, Wave V = 9.2%. Household Liquidity, Wave III = 60%, Wave V = 0%. Consumer Debt, Wave III= 60%, Wave V = 90%. Savings Rate, Wave III = 6.2%, Wave V = 2.5%. Blah, blah, I can go on... "The herd did not get cleaned out in 29?"..You are right, most got cleaned in 1930 once the Dow dropped some 90%. Now, for those who held tight onto their RCA stock, they broke even again around 1964 I believe. I guess that Depression story is a myth? Productivity Growth..ah yes...the call of the "new economy"..but, for those of us in real businesses (i.e. not doy-com shams), the so called computer enhanced productivity gain was felt some 20 years ago, not in the last 5 years. The internet, although useful, is unprofitable and generally deflationary. The current market is a classic mania by any and every definition. The mania is what has created the "good feeling" especially for those who now assume that annual stock returns of 20% is "normal". But the fact is, since 1925, the GDP has averaged 6.5% growth and stocks have averaged about 8% including dividends. Over time, share prices cannot above the GDP level. Over the past 15 or so years, the annual increase in stock prices has averaged 17% despite the GDP growing at under 6%. GDP would have to grow at 20% for a decade, without inflation to "catch up" to the stock price increases. This is beyond fantasy. Therefore, the rise in stock prices has come from the mania itself, not from growth or any productivity gains, etc. I have already taken up too much time rambling. My apologies to the regular thread followers. We now return to the regularly scheduled junior mining stock.