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

To: stockman_scott who wrote (52016)	5/24/2002 8:53:34 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 65232

US consumers are tapped out... more evidence via survey InsightExpress conducted a survey of 500 US households the theme concerned vacation plans this summer 35% said they plan no vacation this summer at all the principle reason stated was "cannot afford it" the secondary reason stated was "cannot get away from work" so American families are struggling to pay bills and stuck in jobs I believe household debts are reaching their limits / jim

To: stockman_scott who wrote (52016)	5/24/2002 10:56:20 AM
From: Jim Willie CB	Respond to of 65232

as usual, economists get Q1 wrong on revision, down revizn prelim Q1 GDP was at 5.8% growth, announced last month full of estimation, guesswork, seasonality goony stuff, and other hedonic politically inspired nonsense economists polled came up with estimated revision to 6.0% (THEY GET IT WRONG 75-85% OF THE TIME) revision came in at 5.6%, downward The downward revision was due to weaker business investment, lower government spending and slower consumer spending on durable goods. and the great majority of the growth was not growth at all it was sales off heavy inventory I have maintained steadily since my SI birth in 1998 that economists are the most INCOMPETENT statistical analysts among the several practicing professionals their craft is overloaded with heretical assumptions, deceptive absurdities on seasonality, and politically influenced index measures the Consumer Price Index (CPI) has become largely a joke it avoids insurance, local taxes, all the things important to include them would add costs to the SocSecurity and Fed Pension programs the latest hedonic crapp was eliminating transportation counts to the unemployment applications, the jobless index in Jan 2001, economists forecasted annual 3-4% GDP growth we got perhaps 1%, an enormous miss once again USE ECONOMIST PREACHINGS AS A CONTRA-INDICATOR and you will prosper in the investment world / jim

To: stockman_scott who wrote (52016)	5/24/2002 12:26:25 PM
From: Sully-	Read Replies (1) \| Respond to of 65232

Rail Systems Warned of Possible Threat Friday, May 24, 2002 WASHINGTON — The Transportation Department has warned transit and other railroad systems about possible terrorist attacks, a department official said Friday. Spokesman Chet Lunner said the information that triggered the alert cited "unconfirmed, non-specific reports that indicated attacks" that were being considered against subway trains. The department sent the alert to all subways and other railroad systems, including commuter rail, passenger railroads and freight companies. The warning did not mention any specific cities nor did it warn of possible multiple attacks. The advisory asked transit system operators to "remain in a heightened state of alert," Lunner said. A source speaking on condition of anonymity said such attacks most likely would involve explosives. Also, the FBI is publicly warning about a possible terrorist threat from scuba divers. In a bulletin sent to state and local law enforcement agencies, the FBI warned that "various terrorist elements have sought to develop an offensive scuba diver capability." A U.S. law enforcement official, speaking on condition of anonymity, said the warning came from interviews with detainees and documents recovered in terrorism investigations. But this official declined to offer more details. The scuba warning, which the FBI said was based on uncorroborated and unsubstantiated information, cautioned that while "there is no evidence of operational planning to utilize scuba divers to carry out attacks within the United States, there is a body of information showing the desire to obtain such capability." The scuba warning was published on the FBI's Web site. foxnews.com