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

To: Sully- who wrote (8662)	10/31/2002 4:51:29 PM
From: Jim Willie CB	Respond to of 89467

no way Tex, market ran into kilo of cocaine five weeks ago and just ran out it is not running on the coke supply any longer but rather on tars inside the freebase pipes back in my old hawaiian kona pot days, we would resort to about 3 days of smoking the pipe, after depleting supplies at times we would scrape out tars with a paper clip hardened tars were stronger than hashish this market is running on fumes, on pipe tars they have run out and this fact will be very apparent after the elections on Tuesday, and after the FOMC meeting the following day, when our own Hairless Sir Alan GreenScrotum will declare the recovery on course and NOT CUT RATES neither the dollar nor the stock market will like that decision but this time, they will not agree with his shallow and empty assessment of the economy THEY KNOW BETTER and after a few more weeks, the bond market will bounce around with rates retesting the 3.5% to 3.6% area but a foreigner risk premium must be maintained, and that level might be the lows for rates if not, then only a mite lower will be the lows foreigners hold 45% of TBonds, and must be offered premiums the bond yields will bottom out, then the paper game is over some pathetic attempts will occur to recycle back into stocks but it will fail after bonds and stocks both look like profitless wastelands, TIME FOR GOLD TO TAKE CENTER STAGE MY GUESS: AROUND FEB-APRIL 2003 I have said all spring and summer long, GreenScheiss is trapped and powerless he cannot cut rates, or else risk a dollar decline but with current rates OR EVEN lower rates, the economy slips further which will hurt the dollar anyway the conclusion is that cutting rates hastens the dollar decline he must continue with his deceptions on the economy revival if he cuts interest rates, it will occur during a panic if he cuts before the panic, we will see utter pandemonium panic later the Federal Reserve is being relied upon by masses far more than can be justified by its actual power in my view the Fed is totally impotent now and besides, with debt now at 90% of our asset base... what is left to borrow against? who is left to borrow? who is willing to lend? (except for cars, homes) this economy is slowing morphing into payless commerce buy now, pay nothing, accept delivery with no payments until later no interest either in some cases, you can rent with no cost we are slowing seeing the entire floor disintegrate we may soon see editorial opinions that this is a sign of an advanced economy with highspeed finance dont believe it, rather it is a desperate economy that is completely unwilling to shed the 5% of the workforce that I expect from here that is right: 10% unemployment, just like Germany !!! soon it will be clear that large tracts of the economy will be assumed by the federal govt, as the United States suffers a transition into a socialist state, with state-owned utilities, state-owned car mfrs, and state-owned housing it will be a sad transition, but that is precisely where we head 100% short is a perfect place to be esp since all charts show us impossibly stuck below resistance with enough knocks on the pipes without response, a young man gives us on getting his tubes drained on the given night he checks out and falls asleep / jim