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

To: mt_mike who wrote (51501)	5/16/2002 10:50:11 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 65232

excellent article MTMan, opposing forces at work the US total debt is actually accelerating even as the GDP is slowly translation: debt and the economy heading over the cliff the M3 chart goes counter to my MZM charts though MZM has risen sharply all thru 2001 Money of Zero Maturity is not as broad as M3 the Fed cannot order companies to borrow your evidence is endemic of bubble overcapacity aftermath stls.frb.org got a quick question for you CNBC reports share buybacks as positive for stock market I disagree IBM had bought back millions of shares all last year they are down 25% since last autumn I regard buybacks as an indirect dividend, a backdoor payment of money to shareholders via equity market, supporting the stock in almost a worried manner furthermore, I regard dividends as an admission that no longer does mgmt see viable opportunities to invest in current or new businesses what is your take on buybacks? how do you resolve the difference between your M3 chart showing no growth in 2001 and my MZM chart showing 20% growth in 2001? / jim