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

To: stockman_scott who wrote (49603)	4/5/2002 4:14:18 PM
From: Jim Willie CB	Respond to of 65232

no $1000B in proforma statements though so it never occurred I prefer to write $1000B to $1T (which looks small) proformas still have tremendous appeal to the financially illiterate but that is slowly changing, and NOT fast enough I consider 80% of small investors illiterate including all but perhaps two non-SI friends no knowledge of economics or accounting zero ability to either define "inflation" or attribute the cause for "price inflation" most have deep trouble with long division and percents so now we are left with believing that operating earnings look good on forward basis forget the past, forget we blew collectively $1000B those busted investments wont generate diddly in earnings this is all part of the K-wave in deflation and collapse last year at this time many utter fools talked of 2ndHalf Recovery it never happened I dont expect to see the major indexes much different in 12 more months maybe up 6-8% anyone ever heard of the Kondratieff Cycle ? every 60-70 years, big economies undergo a massive secular cleansing it deflates, kills dead capital tissue, repairs balance sheets thru deaths & burials, and moves on we are into the 3rd year of it only an illiterate idiot would think all is well, onward & upward only a mental dwarf, a non-student of macro-economics /jw