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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (88075)	1/7/2001 9:28:17 PM
From: Ahda	Read Replies (1) \| Respond to of 132070

Hi Joan, Difficult to discuss this generation as half of the ones in early thirties grew up hating monetary assets. Need was not part of their diet but the expression of distaste of monetary was. A political era that began as back to basics of nature, to where an air era enthroned many questionable gods. On this course to reality it is impossible to not wonder if the enthronement of Gods was not over done. I tend to think a great many of those back to nature folks, if designing products of air, in private did not question, if solid was. The illusion of options and mass paper service had fooled far to many and many of those lesser gods with a few honest grey hairs cashed out early. It is the young fool gods that will fall in this particular cycle, an I am non replaceable attitude becomes costly and replacement becomes less costly. The over forty heroes with jogging shoes on to assist said ventures will go with them big time. Joe 6 pack if he had any money in funds will withdraw the rest as joe 6 pack isn't to sure if there is a company he can be foreman of. In the late eighties many around me in finance were unemployed or doing everything they could to have their companies survive, more debt if they could get loans. I live in Ca what do i know, other than paper service is complicated and lucrative. California Treasurer Phil Angelides on Friday launched a rescue plan, proposing creating a new state authority able to issue up to $10 billion in bonds to help the nation's most populous state pay for operating power plants and distributing electricity. ``The idea of the state proposing a rescue package seems very viable and gives hope, but I just don't think these companies can survive without bankruptcy protection,'' cautioned Josefina McEvoy, bankruptcy partner at the Los Angeles law firm of Markowitz & Fernandez. Klee said the advantages of Chapter 11 include not having to pay interest on any bonds issued before the filing. It would also make it easier to borrow more funds as any money lent after the filing has a prior claim on assets. But it could be a slow and expensive process. Klee said it could take two to three years for the utilities to emerge from Chapter 11 and McEvoy estimated legal fees could reach $100 million.

To: Joan Osland Graffius who wrote (88075)	1/7/2001 11:04:59 PM
From: Michael July	Read Replies (2) \| Respond to of 132070

Joan, I too share your view that hard assets such as gold and/or diamonds will be a place where one stores value. Unfortunately, if they become too "precious" our government may opt to confiscate. They did it before. My wife's parents grew up in the Depression. Just the other day I received a surprise call from them wanting to know how they could buy gold. This from some very conservative yet astute people in their 70s!! I think they smell a rat. I'm not one to play the option game as I've been right on the direction before but my timing was off. Maybe Leap Puts is a way to go as they'll give me more time. Anyone have a lead where one can stash some money in a Euro type fund? From what I've read and now beginning to believe this could become the new world reserve currency down the road if/when the rest of the world disowns us, or at least what our currency stands for.

To: Joan Osland Graffius who wrote (88075)	1/8/2001 9:28:58 AM
From: Earlie	Read Replies (1) \| Respond to of 132070

Joan: Good comments. Glad to hear that the media is (finally) starting to catch up with the "new reality". Actually, I agree with you on this. More reporters are emulating Gretchen and John Crudele (NY POST) and getting off their fannies. I agree with your thinking on oil. I worry that the slow-down that we are entering will reduce oil demand globally much more than most folks think. There is already some early evidence of this. With what is going on in Latin America already, I don't even want to think about what lower oil prices will do to some of their economies. Incidentally, and as I noted in the fall, the U.S. consumer is pulling his horns in even more as the pink slips start to expand. Of all the things that tend to turn off American consumption, lay-offs are the most important (at least as far as I am concerned). Having already come through a bruising Christmas season, retailers are experiencing severe loneliness so far this year. Not a good sign, especially given the inventories. I agree with your views on real estate. A contraction is just getting underway in the housing sector up here (very early stages yet). Got gold? I see that Solomon has turned keen on it. (g) Best, Earlie