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To: pater tenebrarum who wrote (67350)	2/13/2001 4:22:42 PM
From: UnBelievable	Read Replies (1) \| Respond to of 436258

I'm Sure He Knows You Can't Push On A String. <gg>

To: pater tenebrarum who wrote (67350)	2/13/2001 4:36:43 PM
From: SouthFloridaGuy	Read Replies (2) \| Respond to of 436258

Heinz, my questions for you: When do we get out of the recession? Will property prices be affected in areas like New York or Silicon Valley? How bad will the employment scene become?

To: pater tenebrarum who wrote (67350)	2/13/2001 4:41:25 PM
From: patron_anejo_por_favor	Read Replies (4) \| Respond to of 436258

Conagra (CAG) warns (due to higher energy costs). So much for defensive stocks: biz.yahoo.com

To: pater tenebrarum who wrote (67350)	2/13/2001 5:54:42 PM
From: NOW	Read Replies (2) \| Respond to of 436258

Great post with an intersting chart on inflation Heinz gold-eagle.com

To: pater tenebrarum who wrote (67350)	2/13/2001 6:07:02 PM
From: NOW	Read Replies (1) \| Respond to of 436258

"We are confident that the US will not follow the path taken by Japan and that the US monetary authorities will, instead, opt for higher and higher levels of inflation. An important difference between Japan and the US is that a large portion of the Japanese voting public's net worth is comprised of traditional savings (interest-earning deposits at financial institutions), whereas the average US voter has almost no cash savings. The net worth of most Americans is determined almost entirely by the current prices of their property and stock market investments. This difference is important because, as far as the Japanese monetary authorities were concerned, it placed a political obstacle in the path of inflation. Central banks have the power to discount (purchase) the loans and other assets of private banks. The Bank of Japan could have re-liquefied the Japanese financial system at any time during the past 10 years by monetising the non-performing loans held by the banks. This would, of course, have resulted in massive inflation and would have amounted to a devaluation of the hundreds of trillions of Yen of savings accumulated by the voting public. A more politically-palatable path, one that entailed extremely-low interest rates and huge government deficit-spending, was hence followed. The same political impediment to the large-scale conversion of illiquid assets to currency deposits does not exist in the US. We don't want to get into any further discussion, at this time, as to why the post-bubble environment in the US will be very different from the post-bubble environment in Japan for one simple reason - the US bubble has not yet burst." gold-eagle.com