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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: t4texas who wrote (6740)	9/9/2002 8:23:09 PM
From: macavity	Read Replies (1) \| Respond to of 33421

No Change! It is all part of the plastering the crack mentality. A lot of people (more than usual, but not a majority) are against this use of public money etc., but using public money is nothing new. They have been 'supporting' the market all the way down. So issue bonds and offer tax cuts - seems like everyone is doing it. Clearly there is a race between the MOF and the FED to see who can print more money to pay for all this extravagance. I have no idea who will win. In short no-one is holding their breath, no-one will spend their money from the tax cut and there will have to be a climatic event to get the Japanese to change. It will come. The Gov of Tokyo's actions/statements are what got this rolling - "Our money is not safe in these banks!" This is why the government is back-pedalling on its reforms, and offering guarantees left,right and centre. Ignore the government they are deliberately useless. These statements knocked Mrs Suzuki (The woman on the street, women control family finances) a little, she is probably now thinking about pulling her cash out. There has been a movement of cash from very small institutions already. Da Governor has basically said, that in his view, all are unsafe. IMO, there will be a run on a major bank within 12-18 mths. The seeds of doubt have been sown in the peoples' mind. Await harvest. -macavity