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

To: Alan Whirlwind who wrote (14677)	7/8/2002 9:19:01 PM
From: sea_urchin	Respond to of 82344

Al >I suppose the key is the US$ and if it falls another 20%+ as some suggest, fallout seems inevitable Also, the general economic climate with directors of Enron, WCom etc on trial, the downward pointing indices across the market and, probably most important, the lack of real investment merit ie PE ratios, NAVs etc on the major stocks. spglobal.com "The 12 month March, 2002 operating earnings (on S&P500) was $38.87, P/E 25.5 and the 12 month March, 2002 'as reported' earnings was $24.70, P/E 40.7 ". These P/Es are still far too high and, as we know, the forward projections are all fantasy and smart accounting so we can't believe any of those. Also, one can't forget the debilitating, festering sore in the MidEast which the US has to pay for but is unable to cure as well as the possibility of further involvement in never-ending wars against whoever. Overall, it looks like the picture is one of increasing concern for the US and its administration and possibly even for the whole politico-economic system. As you point out, the USD (and indirectly POG) is the barometer, in fact, the present battlefield.