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

To: t2 who wrote (51390)	5/14/2002 12:35:02 AM
From: Jim Willie CB	Respond to of 65232

deleted, sorry, accident

To: t2 who wrote (51390)	5/14/2002 12:37:57 AM
From: Jim Willie CB	Respond to of 65232

deleted, sorry, accident

To: t2 who wrote (51390)	5/14/2002 12:40:05 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 65232

Luke Skywalker symbolizes extreme heights in US assets high stocks, high bond principal, high dollar, compounded by high monetary inflation use of Star Wars metaphor tells me of Fairy Tale financial market perception risk to life refers to threats to bankruptcy from deflation, debt collapse, currency turmoil, trade wars, boycott embargoes not to mention running out of debt extension US economy has made a transition from one where our country dominated in world production... to one where we import all things manufactured... because of the stupidity behind the Strong Dollar Policy, which has its roots in greed and arrogance (which has brought us an untenable trade debt) now our levels of debt are unsustainably high with federal debt, corporate debt, household debt at extremes our economic growth is built almost entirely from govt stimulus (deficit spending) from IPO capital and corporate bonds from credit card spending from property-based equity loans HIGH MONETARY EXPANSION IS THE ESSENCE OF TRUE INFLATION EXCESS DEBT CREATION IS THE ALTERNATE ESSENCE OF TRUE INFLATION derivative life forms point to the huge risk of blowups JPMorgan comes to mind for me but blowups could happen all across the economy we have seen Proctor & Gamble, Orange County, First Union, LTCM, etc more are sure to come while many are lurking right now age of paper refers to preference of financial assets in favor of natural resource hard assets the 1990 decade of paper asset preference will lead to the 2000 decade of hard assets preference this has been my main point: a growing disdain for paper assets paper mache is a nice Nazdaq symbol the pinnacle of such paper mache is the naked short futures position in gold & silver which amounts to around 3 years of world production I regard Pimco Gross editorial as an extreme warning to US Stock Holders, US ShortEnd Bond Holders, US currency holders AND A SENTINEL CALL INTO GOLD ISSUES (which Gross can only state indirectly) / jim very powerful words: "This reflationary world of Luke Skywalker is by no means a safe and secure one economically, to say nothing of the increasing risk to life itself. It has morphed through the years from an economy primarily based on production, to one substantially reliant on growth via debt and new derivative life forms. We now live in an age of paper, and this paper maché facade is not a permanent nor lasting one."