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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: smolejv@gmx.net who wrote (19893)	6/16/2002 5:28:26 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<we certainly don’t accept that there has been some miraculous fundamental improvement over the past six months> Dolinar, There has been a psychological improvement subsequent to the WTC attack. An expression of that is 'retail therapy'. Life goes on. Bury the dead, move on. The blah, blah, blah of economics is just a crude attempt to measure the mating rituals and psychological position of humans busying around, chasing girls and having babies. The USA has not curled up in the face of a Osama and cos attacks. The USA has swallowed whole the biggest bubble burst in human history [other than national collapses such as the USSR and Nazi Germany]. Now the digestion process is well underway and the carrion is being divvied up. <Our incredibly “productive” service sector (real estate agents, appraisers, securities brokers, insurance salespeople, investment professionals, attorneys, accountants, consultants, media participants, athletes and entertainers, chefs, auto and retail salespersons, etc.) will not appear so impressive with the bursting of the Credit Bubble > Tiger Woods, with sidekick, Kiwi caddy Steve Williams, is productive. It's abstract productivity, but it's as real as a bar of gold dug out of the ground, or another car rolling off a production line. Actually, much more real because Tiger represents the values held in esteem universally. He's a guiding light for humanity. The light is shining brightly. Tiger's productivity is wayyyyy up! Meanwhile, the credit bubble has burst. Global Crossing, Vesper, Globalstar and other indebted companies have had their losses and debt destruction accounted for in the markets if not yet the bankruptcy courts, which are merely stamps of acknowledgement of what's already happened. The worst is over. Yes, Sprint and a few others have yet to take their lumps, but the big stuff has happened or at least been recognized. Worldcom's share price doesn't show much value expectation after the debts are sorted out. The market capitalisation left to lose is tiny compared with the exalted heights of irrational exuberance in Y2K. The cliff is only 10 centimetres high now. Barely a bump. After falling 100 metres, 10 centimetres doesn't hold much fear. Mqurice