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

To: SirRealist who wrote (22934)	8/21/2002 6:08:18 AM
From: EL KABONG!!!	Respond to of 74559

SirRealist, Excellent article... Though I don't necessarily agree with all of the arguments that Mr. Frank is making, nor do I agree entirely with the list of people he has selected for "crucifixion", I do think that he succeeded in making his points explicitly clear. KJC

To: SirRealist who wrote (22934)	8/21/2002 6:24:20 AM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Good evening, SirRealist, <<Rah Rah>> I am guilty as charged :0) Message 9353062 Chugs, Jay

To: SirRealist who wrote (22934)	8/21/2002 9:51:36 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

Sir R, the current market crunch is a mere tidying up, long expected, of irrational exuberance. For Thomas to think it's some sort of 'end of capitalism and freedom' is a somewhat premature. There are always share price glitches when the overly enthusiastic get their expectations readjusted to reality. Dow 16,000 will be here a bit later than I thought, but the innards of the global economic powerhouse continue to gather steam. 6 billion people surging around, looking for ways to improve their lives. The only mechanism is increased economic activity. Bringing back the USSR isn't the road to Nirvana and while many are disillusioned with Enronitis and Global Double-crossing, they know that a reprise of Russia's revolution isn't going to help. The envious anti-trust attack on our idol, $ill Gates and Microsoft was an event which I was going to use as a trigger to abandon the USA stock market because I was pretty sure that if it happened, it would show a reversion to animist socialist religiosity, which is NOT good for Peace, Light, Harmony, Love and Prosperity. However, like a Jew being led to the gas chamber, each step was not quite enough to make me panic and run. It was only belatedly that I realized that the trend was set for the Neocom Thomas Franks of the world and I bailed out. I suppose the economic drive will move to somewhere where freedom is gaining rather than losing ground. China comes to mind. Although China is far less free than the USA, in many respects anyway, the trend is the opposite and trends are our friends. It's hard to keep freedom in a box and lock capitalists down so the neocoms can steal their wealth, energy, creativity and productivity. The best they can do is suffocate them. Which doesn't help the commies as shown by what happened in the commie experiments of the 20th century. Suffocating them just makes everyone equally miserable at a much lower level of happiness than when the capitalists can be rich and the less capable enjoy being dragged along in their slipstream. If the neocoms leave the neocons to get on with capitalism, then the markets will bounce and away we'll go again. However, the average voter has trouble figuring stuff out, so we could well see a long and unhappy dip into economic malaise. Thomas Frank will be disappointed if things come right fairly quickly. So will all the critics of our great and admirable idol, Uncle Al. The portents are that things are going to end up okay, having had two years of crunching with unemployment stable at 5%, no inflation, production holding ground, steady financial systems, political stability and market clearing of those who got it excessively wrong. It will be such fun to see 16,000 zip past as people realize that the world didn't come to an end because of the Y2K 00 bug where people checked their 401Ks and mistook the 00 behind the decimal point as being 00 in front of the decimal point. They have gone from $1,000,000 back to $10,000.00 and $100,000 back to $1,000.00. Those 00s sure are slippery little beasts. Mqurice PS: Speak of the devil... China and co... < Wednesday August 21, 5:21 am Eastern Time Dow Jones Business News Demand-Driven Asian Growth To Power Global Economy - CLSA HONG KONG -(Dow Jones)- Asia ex-Japan is poised to take the helm as the engine of world growth, driven by stronger domestic demand in China, South Korea, Thailand and Malaysia, CLSA Emerging Market's Chief Economist Jim Walker said Wednesday. ADVERTISEMENT Conceding he was an Asia bear turned bull, Walker said low interest rates, which encourage consumption, combined with more efficient capital spending, revitalized banks and growing confidence will be the main drivers of growth. "Most (people) would view me as one of the biggest bears on Asia over the course of most of the 1990s," he told reporters. "So for me to say that Asia ex- Japan is about to take over as the engine of world growth is very unusual." "(But) if the global economy doesn't go into significant double dip ( recession) over the next six months, by that time the momentum behind the increase in domestic demand in Asia will be so strong that there will be no doubt that it will be the engine of world growth over the next few years."...> I suppose Saudi Arabia will lodge some spare funds there, safe from the lawsuits of Americans.