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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (1032)	7/1/2002 3:25:57 PM
From: Jim Willie CB	Respond to of 89467

remaining safehavens: Dow, 10-yr TNotes, real estate among the Dows, the most popular safehavens have been - consumer stocks - retailers - REITs - defense (might be spared for good reasons, military stance) the 10-yr Treasurys have been a safehaven, but now mainly for US investors as foreigners seem to be favoring European bonds and GOLD real estate is now enjoying "paying any price to lock that rate" a bubble as clear as soapsuds has formed I expect all safehavens to be attacked next this autumn represents the critical period for the HARD DOWN phase of the 2nd year in Presidential Cycles for stocks smart money has exited, foreigners have exited and retail investors have rushed in to fill the void nothing changes... sheep get shorn the declining dollar will have tremendous fallout effects safehavens will be attacked when the storm hits so far both economists and journalist have totally missed the detrimental effects of our falling currency it opens the door to higher inflation, higher rates and thus slower economic growth nobody talks about these detrimental effects of the dollar not yet this morning CNBC interviewed the economist with the best forecast for 2002 so far let me rephrase that ... the economist with the least bad forecast for 2002 he actually believes Q3 and Q4 will show 3% GDP growth he did not mention the declining and lower dollar not one iota the economics profession is an embarrassment it has been politicized, and gutted of quality via pressure, heresy, and ignorance / jim