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

To: Enigma who wrote (6370)	6/27/2002 12:18:24 PM
From: Jorj X Mckie	Respond to of 33421

That is true, but if you look at the ENE and WCOM employees, when they talk about their net worth being wiped out, much of that was stock options and matching funds in their retirement plans.

To: Enigma who wrote (6370)	6/27/2002 7:09:14 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 33421

Enigma: What did it achieve? Well how about the overthrow of the Taliban who were fostering the murderous bastards who killed 4,000 innocent Americans. Ask all the wives, sons, daughters, relatives and friends if this is a bogus war. Ask the families of the brave soldiers serving. You don’t like Bush’s leadership? Well if you’re an American you get to vote in a few months and again in a couple of years. You also get to piss and moan all you want cause we have free speech. On the administration scaring us. Unfortunately they were attacked when they were not notifying the populace on potential attacks and politically (remember this is their livelihood) they now have to do this. If they don’t they will be attacked again and rightfully so for failing to prepare us. Then they lose elections for this. If you have a gripe here you should look to those who forced the administration into this situation. You can’t have your cake and eat it too. Tie this in to your leadership point. What would you do? Just send over a missile or two. Well that was the previous administrations policy (and this mostly when it was to deflect judicial proceedings) and look what it cost us. Aid for the Afghanistan populace. Well Rome wasn’t built in a day. They’re in better shape today than they were 9 months ago. First we had a market bubble arguably started in 1995. Some peg it in 1998 but probably the FED didn’t let it really correct in 1998. Doesn’t matter, we had it. A total misallocation of assets due to the financial bubble. What we are seeing now is the effects. The current administration is not going to be able to fix it. The treasury and FED needed to prevent its creation. Now it’s too late. You can blame this administration since they are in office and it’s the American way but in reality they did not create it. They are trying like heck to prevent the rest of the financial bubble from bursting but they will fail. The US dollar is still in a bubble. This started to strengthen in 1995 and if you look @ our current account deficit (around $40B / month) and now 4+% of GDP you can see its due for a major break. It should have broke long ago. Our manufacturers need the bubble to break its an underlying reason whey they are non competitive. The #1 contributor to the deficit is oil imports. This is a long drag out bear. Accept it and plan accordingly. The overcapacity in tech, telecom, banking, autos, etc. still has a ways to run. It’s a problem with the mal investment created by the bubble. The war on terrorism is not going to be quick and easy. Those who feel it should be done quickly don’t understand war. War is hell. So far trying to protect our soldiers and populace is a good thing. If I remember correctly you criticized President Bush on his West Point speech for wanting to strike preemptively. We disagree on that one. Visit Ground Zero if you think this is a bogus war. Ask the families of the 4,000 or so individuals murdered on that day if this is a bogus war. From this comment I take it you are not from the United States. As for the accounting scams it is not different this time. We’ve had these scandals throughout our history. Just on a larger and grander scale now. Were all disgusted with this. How you can blame the current administration for this one is beyond me. Pitt does need to change his ways but at the same time the SEC only has so much in resources. This is not the first time AA has been in trouble. They have a culture issue and are now paying the ultimate price. [You know there are plenty of good people working for these companies also getting hurt. The bad apples are a small minority. Unfortunately there is no recourse unless the will of the people want to do something for them. The majority of Americans take responsibility for their actions and to the extent possible do not look to our government for help. After all the primary role of government is to do collectively what one can not do o their own. Security and protection fall under this category. Yes the frauds perpetrated on investors by Wall Street should be investigated with those responsible held accountable. The frauds perpetrated on owners by management should also be investigated (like TYCO, ENE & WCOM) but a difference here is shareholders voted for this management so they have some responsibility as well. A crass ineptitude in Washington? I couldn’t agree more but we have differences as to who is being inept. Civil liberties – well in past crisis’s we’ve had this. Since its only for 3 or so years and it means better protection I’m for it. Do I like it. No but still I’m for it. All I have to do is go by Ground Zero to know I’m for it. Fiscal prudence. We’ll again we differ. One we needed the tax stimulus plan and for the 1st 2 years there is no skewering towards the “rich” as the political buzz word goes. In later years this comes into play and I too don’t buy the argument completely that it help stimulate job growth (it is the risk takers who create the jobs but who am I to argue). The stock bubble created the increased revenue creating the surplus. Our politicians, democratic and republican are not fiscally responsible. Look @ the farm bill. You blame the administration and talk about blinders. Do I have a caviler attitude. No I’m just taking responsibility for my actions. Hey I lost money in this market. Most recently when mcdta warned. Its not the analyst’s or CEO’s fault. Its my fault. I can blame management but its not their fault I listened to them. I lost the money. This is all my opinion of course and I’m a moderate.