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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Paul V. who wrote (64593)	6/26/2002 8:36:27 AM
From: michael97123	Respond to of 70976

Paul, Ramblings We know the markets will be ok again, the first time they ignore a wcom announcement(not today). There must be more wcoms out there but it really doesnt matter going forward. The important point is that no one better dare be doing this going forward. Martha Stewart stock is a lesson in how the markets will scrutinize earnings etc. going forward. WCOM may be the catalyst for that turnaround in the markets. Today might actually be capitulation--500 points on the dow--125?? on nasdaq--Wouldnt surprise me at all. World is not coming to an end at least not in business. My great fear as you know is another attack. mike PS Bush looking real weak to me now but he still commands the polls. He must use political capital to defeat El Quaida using any means necessary. Stop screwing with Iraq which is containable and go after the re-formed terror network. All the homeland security in the world cant stop them for succeeding with a terror attack at some point. 2. For confidence in the markets he should fire Paul O'Neill and others today and replace him with someone who commands great respect. I have no idea who. Maybe you do. 3. NO guns and butter. If we are to fight a war lets pay for it. The government takes too much money from me now in taxes. I wont miss another percentage point if it goes to pay for the war. My market losses far outweigh my tax burden. Supply side doesnt work in war--cary was right about that. With a war tax my equities will go up so i will come out ahead anyway. The market fear is made worse by a fear of the 70s returning. There are strong similarities between this period and the late 60's where a guns and butter approach with out of control deficits led us to ruin. Although the markets have fallen in advance of inflation/high int rates/stagflation this time, we still have time to prevent that from happening. Then the market will rise. If we dont, we might get one more bull surge this summer/fall befor the realization sets in that stagflation is just aroung the corner. We probably have 3-6 months to correct this. Can Bush do it? Dont know? RAMBLING and RAMBLING