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

To: stockman_scott who wrote (3565)	7/31/2002 12:48:48 PM
From: Jim Willie CB	Read Replies (3) \| Respond to of 89467

still most absurd: economy will catch up to the economy no precedent in 150 years the biggest curveball out there is the erosion in investor confidence we all know why but is that the only reason why stocks are falling? I am certain NOT we will see in the next few months why the stock market was taken down so severely investor confidence is lower in part because of the widespread deception in accounting, which means earnings were nowhere nearly as good as valuations reflected that is a start so next one has to wonder whether earnings will come down even further for instance, from options expensing and another, from realistic pension trust growth assumptions so maybe investors concluded that 2001 S&P earnings might indeed be zero and if the economy is having increasing difficulty providing corporations with profit margins, as deflation runs its course, maybe earnings will become negative for S&P instead of growing 30-40% by this autumn, I expect three things to show themselves: 1. effect of dollar decline (both in US and worldwide) 2. serious stress among banks (both in US and worldwide) 3. a flood of shareholder lawsuits against NYC brokerages / jim