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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (6318)	6/25/2002 11:10:50 PM
From: Yorikke	Read Replies (2) \| Respond to of 33421

What goes around comes around.....There is no crisis here, just a long period of yang swing. Ray I do not share your apocalyptic fears. The country is neither being duped nor is it any less moral than the rest of the world. Moral outrage grows out of the jealous realization that them that flaunts the 'accepted' code do so well when compared to them that follow 'god's rules'. Most of the world honors the wrong rules. The rest of the world, the Europeans included, enjoy a much richer cesspool than we ever will....they just don't have the guts to face up to it. Look at the Japanese: Years have passed and they still have not admitted that their systems are corrupted and failing. The French will lie outright and say it never happened even as there are riots in the streets, the Germans will make their failures acceptable by changing the rules. The Brits will weed it out, but with the speed of a game of cricket. This leg of the economic cycle was interrupted by a period of patriotism and further excess credit expansion. The cycle is again at that point where downward momentum may continue. The excesses of the boom era are being exposed and more will continue to be. There is nothing new to this, nothing extraordinary in terms of what is predicted in business cycle theory. The magnitudes make it seem so, but the games are the same, the types of predators the same as previous cycles. Government tightened controls after the Depression, loosened them as time went on, and found itself outclassed in its ability to understand events. Now Government will again tighten controls...twenty years or so from now it will loosen them again as the cycle again repeats itself. Most of the people who read this thread are lucky as they have a market awareness that allows them to protect their capital. But we all know of friends and relatives who have seen their retirement dreams shrink significantly. And that will be the cause of the real changes that come. Politicians are no so avarice they do not know that the lower and middle classes rule if they desire. Keeping that desire to rule in check is the game that has been played for at least 50 years. Nobody with any real money wants the lower classes to get mad enough to do anything. Fleecing them is one thing....outright plunder is quite another. It will be this realization that will cause politicians and the monied to accept some significant changes in the way market information is distributed. The game will become fairer and make it much more likely to be profitable for all involved. We will be closer to the economic theory of perfect information. Markets will function more efficiently. Capitalism will be better for it. And we in the US will lead the way. Others will follow. The quicker we clean our own house the quicker our markets will attract their capital. And as long as we stay a few steps ahead of the rest of the world .....they will hate us for the 'immorality' of our success.