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To: SliderOnTheBlack who wrote (90221)	4/18/2001 9:51:05 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Reality will not be denied. (MrMibs) Apr 18, 21:21 (from goldeagle.com) - (interesting take on today's events - VBG)~ The U.S. Economy is toast. How can I say that you ask? The Dow just had a 400 pt day! The Naz is back above 2000 with a bullet! Everything is rosy in Bubblonia. But reality is lurking out there - and will slap the dillusional sheeple upside the head with a massive blow. It may be a fatal one. Here is reality: Massive U.S. account deficit. A credit bubble that has no precedent. An equities bubble that has no precedent. A negative U.S. savings rate. Record consumer bankruptcies. Corporations with massive debt they cannot repay. Energy prices skyrocketing - utilities going bankrupt. Possible bank failures to come? $3 a gallon gasoline by summer. Repatriation of dollar denominated assets by foreign investors a real possibility - which will cause the almighty greenback to crater. Mega negative corporate earinings announcements on the horizon. Lower U.S. interest rates making U.S. fixed income securities less attractive and bringing short term rates on par with Europe. This rally will not last. The U.S. economy is indeed toast. Greenspan knows this. This surprise cut was a desperate act by a desperate man. It will not work. ============ (another great post from Kitco) Last time rates were CUT like this was LTCM 1998 (Steve) Apr 18, 18:31 First back in January, 2001 we had the Bank of America, J.P. Morgan, Citibank, and money market funds for grand total of 18 BILLION in liabilities because of PG & E utility bankruptcy. Now we PROBABLY have Edison going down the same path in the sorry State of California with our socialist management. Poor ole Gov. Davis is blowing his chance to run against big "W." On top of that we might have another Gulf War starting in Israel without the Club of Rome backing; that is America, England, and the the Israelis only. Since California paid 12 BILLION the last two months for total power; by the way, that's more than the entire year of 1999! Maybe those BILLIONs which are actually 1,000s of MILLIONS of LOST fiat dollars are driving the FED's rate cuts! Is Something big wrong in the economy that we might just not see? Is there some liquidity crisis? Are the money market funds getting it full-bore from the bankrupties? Nobody can average 6 times more for utilities and still make a profit; cheap POWER is the key to America's growth -- and we ain't got it NO MORE!