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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (40033)	8/8/2001 10:48:53 AM
From: limtex	Respond to of 65232

JW - The GDP numbers were wrong last year and so were the employment pool numbers. The economy not only was not overheating it was heading into the slow-down. As you righlty point out they must have got their labor pool numbers wrong as well... The only problem was OPEC. These gangsters have been getting away with an organization that if were practised by any group of companies in the Western World would land their managemtns in jail for a very long time. This has been going on for 28 years and sooner or later someone in Washington is going to do something about it. Mr G targetted the NAZ in March last year. There was on other reason to put up interest rates and colapse the economy. OK its not his fault that they just do not know their population or labor figures or for that matter the accurate GDP numbers but I believe those were just excuses. Day after day we had the Bond Babe getting people worked up to a lather about all these terrible figures showing that goodness knows what was going to happen, no more workers left, inflation at ? what. What was the point, what were they scared of. By the time the Bond Babe finished her dire warnings there was a virtual hysterical atmosphere of fear about ...what exactly....? In reality as she was doing this business was ALREADY slowing down. Talk about pouring fuel on the fire. No Mr G was gunning for the NAZ. And so were all the all know-it -all old money codgers who were being made to look like idiots because they didn't understand technology, didn't like it and thereofore didn't invest in it. Eventually Mr G got his revenge and as per usual the old codgers were proven right. They always are. BTW I see oil price is creeping up again. Masochists we are. Where is the Jutice Dept...too busy fighting NextWave and Microsoft. Best regards, L

To: Jim Willie CB who wrote (40033)	8/8/2001 12:10:03 PM
From: No Mo Mo	Read Replies (1) \| Respond to of 65232

"I think the major news centers are missing a big story here ADDICTION IN CONSUMPTION, i.e. spending, lifestyle it reacts little to the reality of the household financial statement it reacts very much to cutoff of available borrowed funds" Yup. I can think of few more obvious truths. Yet, almost no organizational entities with commercial/profit motives will ever characterize the American (or Global) consumers' motives as "addicted". It's not in their interest to admit our 'powerlessness'. They like to see us as making informed "choices" in an endlessly varied marketplace. But the way you've called it, my friend, is how I see it, too. There are precious few realistic options for stepping off the consumption escalator. (Just try using mass transit from LAX to get to say Hollywood. It's under twenty miles yet it'll take you four hours without a taxi or private car. Look at how expensive organic groceries are. Just try sending your kid to school w/o that Pokeman card or that Christina Aguillera shirt. The conditioning starts young.) That, I think, is why we (especially the media) panic when economic indicators ebb. We're so addicted we don't know how we'll make it w/o 3% annual econ growth...or how we'll get around in anything less than a Escalade...or how anyone can be expected to wear clothes for more than one year regardless of whether or not they're worn out...and on, and on. I think you're right. We will have to get to the point where the pillar of personal consumption cracks. Then, and only then, will the chaff of the past eight years be blown from our economy. Cheers, -Darin