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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (20726)	7/4/2002 1:33:42 AM
From: LLCF	Read Replies (1) \| Respond to of 74559

Sadly many are looking for 'science' in a social [econ IS a social science after all] arena.... even in the hard sciences virtually EVERY major breakthrough comes from anecdotes which leads to scepticism and finally a new paradigm... and thats HARD science. The weight put on the 'science' of economics is mindboggling... when people & reality are right there to observe and talk with in real time with feeling and interest... folks fall back to models with yesterdays [propensity to....] assumptions and someone elses [even more mathematical and ivory tower & out of touch no doubt] viewpoint. Reminds me of autism... afraid to look reality in the eye... just spew and echo... look for numbers to lean on... anxious... little feeling.... " 4:00, time for Market Wrap" DAK

To: EL KABONG!!! who wrote (20726)	7/4/2002 1:50:12 AM
From: Raymond Duray	Respond to of 74559

PLUNGE PROTECTION TEAM Kerry, That was the best and most thoughtful post I've read in a while. Thanks for your efforts. :) I'm not sure where you are located, but there are still some signs of scattered robustness in the economy. Here in Bend, OR, there is currently a tremendous housing boom going on. While the retail scene isn't manic, it certainly is holding its own better than I would have expected, considering that the State or Oregon, like 44 of 50 states is dealing with tax revenue shortfalls. Ours amounts to about 5% of the annual budget. It is certainly a time of belt tightening, but not of a panicked response from the legislature and the governor. I have a brother-in-law who works for one of the largest LCL (less than container load) trucking firms in the nation at their Chicago hub. He is currently getting in overtime, so I'm concluding that the slowdowns you are seeing may be a regional phenomenon. """"""""""""""""""""""""""""""""""""""""""""""""" Regarding the PPT, I have been strongly suspicious of their interventions over the past few weeks. Today was a case in point. Considering the news, and the fact that this was a quiet market prior to the holiday, the action of this afternoon seemed to me to contrived by some force behind the stage set pulling really hard on the puppet strings. Very suspicious movement in the averages, IMO. Here's some reading for those who would like a backgrounder on the Working Committee on Financial Markets (PPT): Message 15324477 washingtonpost.com markets.ft.com PPT intervention subsequent to Operation 911: washingtonpost.com PPT intervention in April, 2000: mcalvany.com PPT intervention in June, 2000: goldstatistics.com "It’s as rigged as a Biloxi roulette wheel." 888webtoday.com Quote: "Obviously, we can all agree that the Plunge Protection Team was established for two reasons…to make money for those in power and to preserve the power itself.