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

To: Jim Willie CB who wrote (52560)	6/3/2002 8:20:53 PM
From: mt_mike	Read Replies (1) \| Respond to of 65232

JW, I have been traveling on business for the last few days and figured I would give you some reports on what I see out there based on conversations I have had with people. First, despite all the press on gold lately I have not talked to anyone who thinks the move is related to anything other than the threat of nuclear war. People do not understand the inverse relationship between gold and the dollar. Also, people are living in a state of denial and cannot face the fact that their 401(k) and pension plans have been cut in half and will not recover anytime soon. Most people are still chasing tech stocks in much the same way as gambling addicts chase bets. Second, the corporate world does not see things getting better. More layoffs are in the works as companies need to boost earnings. The non-recovery should be very clear to most by October. Third, commercial real estate is already rolling over. Can residential be far behind. Finally, the CEO of Tyco should be sharing a cell with Ken Lay and the Merill CEO. I guess he bought those 500,000 shares earlier this year with the money he saved from not paying sales tax. The great scam of the 90s is being exposed for the farce it was. Unfortunately, the more I look the uglier I think it is going to get. Got gold (and silver).