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Pastimes : I AM A MINDLESS ZOMBIE -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (162)	9/27/2002 5:38:29 PM
From: David W. Taylor	Respond to of 258

Mqurice, I need to take your post point-by-point. >> ...Uncle Al gets a knighthood...and Fleckenstein doesn't. We'll just have to disagree on Mr Fleckenstein. >> People buy Britney Spears records by the million. Personally I would rather have Britney running the Federal Reserve. >> Reality always wins and so far, Uncle Al has done successfully just what I thought he would do and the outcome has been what I guessed, way back in 1998.>> You and I must be the proverbial half-empty versus half-full. I'll leave you to guess which is which. IMHO Uncle Al has hosed up the world's economy to such a degree that we are staring into the double barrels of a full-scale, make-the-'30's-look-like-a-walk-in-the-park depression. >> we have sailed through unscathed >> This is a definition of the word "unscathed" that I cannot find in the dictionary. A huge number of people have been 'scathed. The press has not started reporting the true pain level. >> Amazingly, there has not been even a small deflationary crunch and inflation hasn't got going either. The global dollar demand and productive capacity has acted to absorb the huge printings of more money. "other sycophantic rambling" >> Ask a typical US farmer about the prices he is able to command and then tell me again about the "small" deflationary crunch. >> The US$ remains pre-eminent. >> Only a few deluded citizens of the US actually think that. I have a hunch that most Americans are starting to be more-than-a-little embarrassed about the actions of the government of the land of their birth or adoption. >> Even though we aliens have taken a $trillion battering by Enron, Global Crossing, Globalstar, Worldcom and untold other financial disasters of a criminal, incompetent or unlucky nature, Uncle Al has managed to keep the financial system stable.>> This is fuzzy thinking. The world's financial systems are fairly far from stable as time will demonstrate. Japan's government even went so far in the last week as to start purchasing their domestic stocks in the foolish belief that this would somehow help. Stable financial systems do not normally engender such actions! >> Of course that can all go poof one day if Americans choose to introduce trade barriers, destroy confidence in the dollar, go nuts militarily or otherwise behave in an uncivilized way.>> This has already started. Witness the debacle over US steel import tariffs. >> Cantor Fitzgerald showed the strength of the USA. >> Cantor Fitzgerald responded in a wonderful way to a tragic loss. How that is a particular "strength of the USA" is questionable. It was simply humans being human. >> If I had known what would happen, I'd have considered that Uncle Al's financial ministrations wouldn't cope and I'd have been running for the hills. >> You soon will be along with the citizens of a lot of other countries! >> China's stability and economic development has played no small part in avoiding implosion. The USA should be very circumspect about stomping around too clumsily. I think Uncle Al is aware that the USA political attitudes to China could be problematic. >> This is the first of your points that I actually agree with. >> I am hopeful that ... >> Hope away. David