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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (15727)	7/14/2002 11:26:39 PM
From: Douglas V. Fant	Read Replies (2) \| Respond to of 36161

Hopefully Inida will continue to turn the other cheek as to the latest outrage by the evil Nazis of fundamental islam. IMO this is an effort by radicals in Pakistan to divert attention away from themselves.... India Prepares Full Response to Kashmir Massacre Sun Jul 14, 6:31 PM ET By Y.P. Rajesh JAMMU, India (Reuters) - India, condemning an attack on a Kashmir ( news - web sites) slum that killed 27 as "terrorism in its most naked form," said it would give its full reply on Monday, as tension rose again with its nuclear neighbor Pakistan. Reuters Photo India Blames Pakistan For Attack (AP) Five attackers -- two disguised in the saffron robes worn by Hindu holy men -- opened fire on a crowd listening to a cricket match between India and England. The killers then barged into nearby huts, shooting wildly. The killers attacked the poorest of the poor -- Hindu migrant workers who lived in dirt-floor huts built on a garbage dump on the outskirts of Jammu, winter capital of Jammu and Kashmir, where a separatist revolt has raged since 1989. Pakistan, locked in a seven-month-old military standoff with India, swiftly condemned the massacre, which it said seemed to have been designed to escalate tension between the two nations. A million troops are stationed on their common border. "What's sad is yesterday's incident was terrorism in its most naked form," Deputy Prime Minister Lal Krishna Advani said on Sunday as he visited the slum where the carnage occurred. Advani, known as a hard-liner in the Hindu nationalist Bharatiya Janata Party-led coalition government, told reporters it was too soon to say whether Pakistan was behind the attack. "The objective of these terrorists was amply clear: to strike terror by killing without any discrimination -- whether a child or a woman," he said. Earlier, smoke from funeral pyres streaked the sky and pre-monsoon winds sent ash and dust flying as the victims, their bodies strewn with flowers, were cremated in a mass ceremony. The assault came before a planned visit in late July by Secretary of State Colin Powell ( news - web sites). Washington has been leading a drive to calm tensions between India and Pakistan, which have fought two of their three wars over Kashmir since both became independent from Britain in 1947. It was the bloodiest attack in Kashmir since a raid nearly two months ago on an Indian army base, also near Jammu, in which more than 30 people, mainly the families of soldiers, were killed in a raid New Delhi blamed on Pakistan-based militants. That attack brought the two countries to the brink of war. Tension eased after Pakistani President Pervez Musharraf pledged to halt cross-border militant incursions, but India has refused to pull its troops back from the border until it is satisfied that he has fulfilled his promise. Analysts have said another big attack in Kashmir could force India to take military action. But defense analyst Kanti Bajpai said he expected India to show restraint in the runup to Kashmir elections in October that New Delhi sees as key to bolstering its position in the Kashmir dispute. "My sense of it is the government wants to play it cool," he said. "It doesn't make sense to respond very heavily and shift attention from the election issue." POLICE SUSPECT PAKISTAN-BASED GROUP No one has claimed responsibility for the massacre but police said they suspected the Pakistan-based militant group Lashkar-e-Taiba. The group was one of two blamed by India for an attack on the Indian parliament last December. Survivors of the slum attack, still in shock, said at least five attackers threw grenades and opened fire on a crowd listening to a battery-powered radio broadcast of the cricket match. An electricity failure meant there was no power. The killers then burst into house after house, mowing down their occupants before fleeing into the night. "There was no light...and we didn't know where these bullets were coming from. It was total chaos," 38-year-old laborer Jagdish Lal told Reuters. "Everybody was running helter-skelter for safety and I saw people falling on each other in the stampede, crying and wailing for help." One survivor said police reached the slum only when the carnage was over. "We ran to the nearest police post and pleaded with them to come but the police said it wasn't their jurisdiction," said Pyare Lal, son-in-law of one of the dead. Twenty-four people were killed on the spot and three died later in hospital. The victims included 13 women and one child. India accuses Pakistan of arming and training militants fighting New Delhi's rule in its part of Kashmir in a revolt that has left tens of thousands dead. A dozen Islamic groups are fighting New Delhi's rule in Jammu and Kashmir, the only Muslim-majority state in India -- itself mainly Hindu but officially secular. (Additional reporting by Ashok Pahalwan)

To: orkrious who wrote (15727)	7/15/2002 1:30:33 AM
From: Little Joe	Read Replies (2) \| Respond to of 36161

You may be right that government will not act until after the market crashes. But many are assuming that there is no choice in the action they take that come what may deflation will occur. While we may have deflation, it is my belief that it will not occur until after a serious bout of inflation. I say this because the govt can relatively easily act. I don't think they are concerned about the stock market, so that falling alone will not cause them to hit the panic button, but if people start to lose their jobs and their homes the government will act. While they many not be able to use debt in their attempt to stimulate the economy there are other ways to address the problem. Direct payments by way of tax credits,which are already established and could easily be expanded. OR, to liquidate debt and encourgage borrowing the government could relax bankruptcy laws, which already play a big part in debt liquidation. I don't want to belabor the point, but I think inflation is coming. Little joe