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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (6494)	8/2/2001 10:21:43 AM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 74559

>>Want economic growth, cut interest rate<< what about cutting rates on outstanding credit card balances - man, that would be the stimulus par exellence in these times. Forget the to percentile earners, go for J-sixorless-Pack. Maybe also channel tax refund down this way instead of spending money on printing and sending the checks - you need to make the money WORK - It's hot and dry here in Germany - we got a promise of nice summer (not tropical g) storm tonight. Regards to the current shift. dj

To: TobagoJack who wrote (6494)	8/2/2001 10:54:43 AM
From: Ilaine	Read Replies (1) \| Respond to of 74559

Hi Jay, I am reading the most recent Federal Reserve Flow of Funds Accounts, and the news isn't as bad as you think. I can now say with a clear conscience that $4 trillion of Joe Six Pack's net worth went to money heaven, but he's been busy making more money and piling up more net worth throughout the tech wreck. Deflation continues, inflation continues, depends on what you're looking at.

To: TobagoJack who wrote (6494)	8/2/2001 11:19:05 AM
From: cblranch	Read Replies (1) \| Respond to of 74559

Hey Jay, -Get a few hi-profile names to beat reduced earnings est. -Merrill upgrades semis -LU pulls off convertible offering You have to give these guys credit for putting together a good pump job. I was worried about Greenpimp doing a surprise rate cut just to add to the mo-mo. Did I mention my shorts have been KILLING me? Hopefully getting some relief today. Brad P.S. Send some of that rain to the midwestern US(thanks)

To: TobagoJack who wrote (6494)	8/2/2001 11:51:23 AM
From: carranza2	Read Replies (1) \| Respond to of 74559

I think it's here that I saw a Goldman Sachs report concerning the horrible mess in Japanese banks caused by their refusal to acknowledge bad debts. The report suggested that the situation is much worse than anyone thought. Should the GS report be correct, it looks like the write-off reported below is only the tip of the iceberg: World's largest bank to write-off 10 billion dollars of bad debt TOKYO, Aug 2 (AFP) - Mizuho Holding's Inc, the world's largest financial group, said Thursday it would dispose of 1,200 billion yen (10 billion dollars) in bad loans by 2003 as part of a drastic restructuring plan to clean up its accounts. "The group revised up its plan to write off bad loans to 1,200 billion yen," Mizuho managing director Mitsuru Machida told a news conference in Tokyo, adding that the company would sell assets and securities, as well as looking for internal cost cuts to help cover the figure. "In the year to March 2002, we had planned to make equity capital gains of 50 billion yen, but in the revised plan, we aim to make 290 billion yen," he said. The Japanese bank told the government's Finacial Services Agency (FSA) it would slash 7,400 jobs by March 2006 -- 400 more than planned under an earlier restructuring plan announced in May. Mizuho said it would speed up branch closures in a bid to improve efficiency, pledging to shut 153 domestic outlets across Japan by March 2005 -- one year ahead of plan -- and 58 offshore branches three years early, by March 2003. The bank said it would dispose of 200 billion yen's worth of bad loans per year starting from April 2003. Prime Minister Junichiro Koizumi has made a clean up of the country's bank accounts a key pledge in a drastic economic and fiscal reform program aimed at kick-starting the world's second largest economy after a decade-long slump. Under the plan, which received strong public support in parliamentary upper house elections over the weekend, banks must dispose of all non-performing loans -- those held by bankrupt or near-bankrupt companies -- within two to three years. But concern has been raised at a potential rise in job losses after companies collapse when banks speed up bad debt write-offs. Some politicians and economists have suggested the government should step in and provide funds for the banks to help them execute the clean-up process. With total assets of 151 trillion yen, Mizuho was created in September by a three-way alliance between Dai-Ichi Kangyo Bank Ltd., Fuji Bank Ltd. and Industrial Bank of Japan Ltd.

To: TobagoJack who wrote (6494)	8/2/2001 6:51:23 PM
From: Maurice Winn	Read Replies (4) \| Respond to of 74559

Jay, I'm perfectly positioned for US$ devaluation and zip.zero interest rates and for us all to be flipped around the cusp into the 21st century eclectic economy and technology. Already, my little NZ$ cash hoard is rising [bottomed several months ago] vs US$. Q!, the harbinger of the new economy is rising along with sales and profits powered by demand from around the world and soon, most importantly, that potential economic behemoth, China with 1.2 billion including hundreds of millions of little emperors. Westerners have an arrogant attitude towards China. China had a century of muck and mayhem which concealed a civilized, intelligent culture bubbling under the surface. Hong Kong is a manifestation of what might be. So is Taiwan. So is Singapore. So is South Korea [not exactly Chinese, but comparable]. Westerners [probably more so 20 years ago than now] thought China was 100 years behind and it would take generations to catch up a little. They ignored that a baby born cares not a whit for history. They fulfill their own DNA music starting from when they are born. In a single generation, they can go from the stone age to the 21st century. They never had copper wires, so go straight to cdma2000. They never had fax machines and golf ball typewriters - they go straight to China.com and email. My head is full of industrial age muck which is of no value in the 21st century. A baby born in China today is 50 years ahead of me. I am not 50 years ahead of them. Paradoxically, I lose ground by having the age and technological edge on the baby born straight into the 21st century. China has the population, the civilization [Mao and mayhem notwithstanding] and soon the technology. The smart young things are studying CDMA in Peking as I write this. They have had CDMA available for years while I'm just getting it in New Zealand this month! While I write this, there is a Knowledge Economy conference on in Auckland, with experts from around the world, pontificating about it all. China [and me] are just doing it without discussion. We are going flat out right here, right now. No, I wasn't suggesting you buy Q! [though it's probably not a bad idea]. I think all that new stuff [the good ones, not the bad ones like the dot.gones and Globalstar though I remain uncertain on which is which] is the best place to store value and invest and protect capital. Even in the midst of mayhem I think it is the best place to be. If the dollar crashes, those CDMA sales in China will simply be reported as more dollars than previously [unless all competitively devalue their currencies in which case general inflation will result in higher sale prices, unless deflationary pressures remain so great that massive printing and zip.zero inflation continues]. Must go, Mq PS: We aren't watching history up close, we ARE history up close.