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

To: TobagoJack who wrote (13787)	1/22/2002 8:40:03 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<USD 1 million will now earn US$ 9.5 per week, good for some burgers and a coke. I would guess that we are not at a 'golden equilibrium' ;0) What do you think?> People owning US$1 million might think they are well-off and retired, but it is obvious that they aren't. Of course, interest rates will rise again, but that'll be after the printing and huge dilution, so it'll be small consolation. Savers of cash are being beaten up! Gee, it seems bad in Hong Kong. That must be why so many of them have come here. It's all light and happiness here. The economy's bubbling happily along, Auckland is always having new construction. Things look good. But we can't take our little Kiwi$ and go shopping in the big wide world; we get one can of baked beans for a bunch of our $$. Fortunately, we grow and can our own baked beans, fish and stuff. US$1 million is still real money here and almost gets a person on the rich list [starts at about US$4 million]. The local stockmarket missed the bubble and missed the crunch. It's all on an even keel. And the America's Cup racing will be getting going later in the year. Mq

To: TobagoJack who wrote (13787)	1/24/2002 3:37:49 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<Money, as they say, is not everything,> True, money is just a measuring stick, like metres and litres, lux and mass. But it's an essential way of measuring human effort and a very convenient way of doing so when it's in the form of an abstract instead of a lump of gold, or herd of sheep or flock of chickens, or gaggle of geese. Since nearly everything we do involves human effort, there isn't a lot that can't be measured in money. I don't subscribe to the commonly held idea that money is some tawdry entity or separate being with evil forces attached [that idea is as silly as the idea that metres and kilograms are somehow evil]. Money is just a promise to do something for somebody. That is not quite everything, but I think it's not far off. Sure, we can use 'good faith' as in friends doing favours, or husbands and wives simply promising to have and to hold or whatever they promise to do. There is no actual piece of promissory paper, [though marriages involve a contract stipulated by government edict], but maybe all human relationships have some monetary value, even if not declared and if in a monetary form which isn't obvious. Money is everything! Mq