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Pastimes : Prophecy -- HYPE or HOPE? -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (519)	9/15/2001 11:05:10 AM
From: SOROS	Read Replies (2) \| Respond to of 5569

I am still amazed at people's pride and stupidity. I should not be, but I am. Message 16354177 Message 16354265 Message 16355693

To: Broken_Clock who wrote (519)	9/16/2001 8:50:44 PM
From: SOROS	Read Replies (2) \| Respond to of 5569

THE OLD MAN (fanatic on some threads) SPEAKS: With "patriot buying", early rate cut, reduced rules for companies to purchase their own shares with other people's money, changed trading rules, Greenspan's Y2K-like printing presses about to blow a gasket, etc., I figure tomorrow and maybe even the week (if there are NO more terrorist incidents -- if so, does the word "crash" mean anything to you?) will hold pretty steady. But, sadly, the economy is still "stinky", and we are still being lied to by corporations and government about it. Airlines will have to be bailed out. Car companies may not be far behind -- Ford has stopped production at two plants which will make their earnings projections toast. Industrial production declined by .8% in August -- ELEVEN STRAIGHT months DOWN -- NOT an economy on the rebound as the corporation CEOs and government talking heads keep saying (lying -- because they KNOW better). Last week the report of initial jobless claims increased to 431,000 -- much worse than everyone expected. This got lost in the shuffle of the tragedy. Market would have declined on this IF it were open. The consumer sentiment numbers dropped to the LOWEST level of the year the week BEFORE the NY incident. Many industries are going to be hurt by the attack -- including CNBC, er, I mean GE -- keep forgetting that one! Fortune magazine has had a business confidence index for 27 years. They just reported that it is at a 27 year LOW!!! I'll repeat this -- Greenspan is pumping the dough once again to try and correct mistakes they have made over the last ten years. You can't use this mechanism to correct EVERY mistake FOREVER. Each time he makes the problems worse and delays the inevitable. This point in history may have just caught up with what I call the "Clinton" lifestyle, or as they called it in the 1960's, or was that 1970's -- "if it feels good, do it." You can live that way, but eventually, IT falls off and takes a long time to recover, or IT dies completely! I'm all for patriotism and not letting the terrorists think they have disrupted the economy, but they have been extremely lucky to have picked this point in the economic time line if that was as motive, because this economy was dying on its own. People may get a feel good out of buying, but I hope those that truly NEED the money they have saved will get it in a SAFE place and let those crying "BUY, BUY, BUY" take the hit because more often than not, they are the ones who can afford it and cry the LOUDEST. You can be a proud American but still not let that cloud your judgment to the point that you go broke. I remain, SOROS ps Don't use a senile old man's remarks for making a decision, but also don't use a rich broker's, a rich senator's, a rich CEO's, or a rich TV personality's either.