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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (160515)	4/17/2002 12:40:52 PM
From: marginmike	Read Replies (4) \| Respond to of 436258

good then we agree! I am short consumers, Fannie, and semi's. with a long hedge in Golds-g- and insurence.

To: Earlie who wrote (160515)	4/17/2002 12:42:53 PM
From: Dave	Read Replies (1) \| Respond to of 436258

no wonder Moodys is downgrading huge bundles of debt paper every few weeks In fact Moody's ratio of upgrades to downgrades is the worst this year that it's been since the first year of Bush the Elder's reign. Dave

To: Earlie who wrote (160515)	4/17/2002 1:02:40 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 436258

Earlie: I have been watching Vasogen the past few weeks. What's up with that <g>?

To: Earlie who wrote (160515)	4/17/2002 3:28:30 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

<<Yes, the initial wave of lay-offs has relented a bit, but it hasn't gone away. Yes, the average J3P has gone out and bought a zero percent financed SUV with the bucks he jerked out of his home equity through a Fannie-financed "refinancing" of his house, but his "savings" remains negative and his debt load is historic. Yes, corporations are meeting the (hugely reduced) analysts' expectations, but the reported results underline an earnings collapse and the corporate debt loads are becoming "unserviceable" as the profits evaporate (no wonder Moodys is downgrading huge bundles of debt paper every few weeks).>> The twin debt loads (corporate and consumer) will be a drag on equity markets for YEARS to come. People say there ain't a housing bubble? Well, someone's pouring somebody's clownbux into all those new homes being constructed, and that represents debt that will be paid at the expense of equity investment (and consumption) for the next 30 years in most cases. Not that it's necessarily a bad investment (though personally I believe it might be)...but it represents a long term asset allocation shift away from stocks at the very least