To: TobagoJack who wrote (14960 ) 2/12/2002 10:49:29 PM From: Maurice Winn Read Replies (1) | Respond to of 74559 <Gee, $69 a share is quite low. I think if Alan Green$pan checks, he'll find a lot of car yards have got cancelled orders and same for new houses and air travel to vacation destinations. He no longer has to worry about the Wealth Effect. He should now worry about the Black Hole Effect. Ramsey Su did a doozy with his latest Vacation Effect destruction. Took out Q! and a lot more besides. Thanks Ramsey! > Mq from 25 May 2000.Message 13778313 Hello Jay, We are nearing two years since the crunch arrived. Uncle Al was six months slow in recognizing the steps to be taken, large ones, downwards [for interest rates], with lots of new money being printed to avoid deflationary implosion. It seems he might have got to the pumps just in time [January 2001] - I had thought he was perhaps helping Bush get elected by keeping rates up to really squeeze the markets before the election to make voters anti-Clinton/Gore due to losing their investments [usually blamed on the government of the day; "It's the economy stupid". <(j) makes one wonder why interest rates needed to be cut at all. > Jay, What you are seeing in San Francisco is thanks to our great hero, Uncle Al! If he hadn't been the world-class exponent of money supply, you might now be walking around a Montana survivalist's urban nightmare [which you would have avoided of course]. He's been having fun with the Japanese money managers and I'm optimistic that they too will pull of a financial feat of tip-toeing past the precipice [a few fatalities will fall over the edge, but not everyone]. Incidentally, a report I saw today said that the Japanese have bought 10 tonnes of gold in January. That's almost nothing per Japanese in the grand scheme of things. I'm thinking the Nikkei might be about to get a big rush of cash and the Dow too; the 20.02 20.02.2002 date is rapidly approaching as is the triple 10,000 magical cusp of the Nikkei, Dow and Hang Seng. Maybe not the Hang Seng since it's not specially low anyway and Taiwan is positively chortling. There isn't enough gold for everyone and they aren't going to be stupid enough to bid it up to $1000 or even $500 when they know it's going to crash again in a couple of years [from whatever peak it gets to]. Cash holders will be cleaned out, diluted and used to rescue the spendthrift debtors of the world. The sensible are always used to rescue the hindmost [especially in democracies - in other societies, the hindmost are left to the wolves]. There is still time to abandon Uncle Al's maw and buy Q. Do NOT be seduced by fool's gold. That's for Aztecs, frightened but ignorant Japanese, Mexica and other stone/iron/bronze/gold age people. Meanwhile, I hope you continue to have a good adventure. Mqurice