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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: ubetcha who wrote (14556)	6/26/2002 1:28:52 AM
From: ubetcha	Read Replies (3) \| Respond to of 82314

WARNING! WARNING! WARNING! Non Doug AK Warning. Could be in for a really interesting day tomorrow. Dow futures are down to almost 8900. Nasdaq in the same boat. No motor, and no paddles. Nikkei down over 300 in overnight trading. Boy it will really take a lot of taxpayer dollars to get us out of this one. Come on democrats, we need the debt ceiling raised NOW!! Alan's troops could have an easy time of it by morning time. Will be interesting to see if this holds. Terry

To: ubetcha who wrote (14556)	6/26/2002 9:16:44 AM
From: sea_urchin	Respond to of 82314

Terry, I don't know anything about the property market in the US but I can see, from what I have read, that there is a bubble. As in the stockmarket, this comes about from easy credit and the necessity to have to make money, not just to appear smart, but to secure oneself. That is fundamental in all capitalist countries where everyone is on a treadmill all the time. People, irrespective of their wealth, are always reaching for that elusive carrot. With property, of course, there are added incentives to over-spend and that comes about from the myth that the more you indulge yourself, the richer you are --- wealth comes from spending and looking rich --- and being where money is. You know the story. Also the one about, "You only live once, so what are you keeping it for?" It's understandable that city property is more expensive than that in the country because most people want to live in the city because that's usually where the jobs are, especially the professional and hi-tech jobs which most people have been educated to do. City properties, in fact, represent an opportunity cost, equivalent to that of education, which the individual hopes to amortize over his working life. So, with respect, it's not a valid argument to compare the prices of city and rural houses and to infer, because rural homes are cheap, that there's no price escalation in city properties. It's almost like comparing the cost of homes in the US to those in South Africa which, on an equivalent cost basis, are worth about a tenth of those in the US. Yes, gold is once again trying to break out of the mountainous region around Hill 325. I'm quite sure, however, that in a short time it will and then move rapidly to 340 or more. As I keep admonishing, the quicker it goes up, the faster it comes down. Like with most things, it's better to be slower but surer. There's no doubt that the current economic background is very favorable to an increase in the gold price so we must just be patient. There is an added advantage to a low volatility in the POG and that is the market parasites/traders/whatever are attracted to volatility, like horse-flies to excrement, and one doesn't want them anywhere near where one invests.