Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Attack Iraq? -- Ignore unavailable to you. Want to Upgrade?

To: DeplorableIrredeemableRedneck who wrote (3002)	11/18/2002 4:25:07 PM
From: calgal	Respond to of 8683

Cavuto Recap: Usama vs. Saddam URL: foxnews.com Monday, November 18, 2002 Neil Cavuto was joined by Gregg Hymowitz, founder of Entrust Capital; Jim Rogers, president of JimRogers.com; Tom Dorsey, president of Dorsey, Wright & Associates; and Price Headley, investment strategist of BigTrends.com. Usama vs. Saddam Last year President Bush said "Usama: Dead or Alive." But Wall Street seems to be saying we just want him dead, but leave Saddam alone for now. So why does the market tank when Al Qaeda strikes and a Usama tape shows up, but rallies on any sign war with Iraq can be averted? Jim says investors and Americans in general do not like war. Since it would take a war to remove Saddam from power, stocks go up after any news indicating we will not go to war. On the other hand, Usama is a bigger threat than Iraq and any news that Bin Laden is alive sends the market down. Gregg agrees, but says he does not think we will go to war with Iraq. If he is wrong, he thinks a quick victory would ensue and that would be a positive for the economy and stocks. Tom thinks if we go to war it will be short lived because the Iraqi soldiers remember what happened in 1991. Initially the market would rally, but then it will settle down and continue in its desired direction. Price thinks a longer war would hurt investor confidence. We would likely make lower lows and the Dow would trade in a range between 6-9,000. Bull Re-run? In late 1962, we saw the Dow start a 78 percent, four-year Bull Run. This after a quick end to the Cuban Missile Crisis and after a bear market. Now we have the Iraqi crisis and a bear market, albeit a much worse one than back then. We also have tax cuts in the works like back then. Is history repeating itself? Gregg says history will repeat itself. He also points out that like now back in the 60s there was one party rule, slow but rising GDP, rising interest rates, and tame inflation. He thinks financials will do well in this environment and recommends J.P. Morgan Chase (JPM), which he owns. Jim says stocks would rally if we settle the Iraqi crisis peacefully, but he does not think that would lead to a new bull market a la 1962 or any other. He believes the bear market will continue in the U.S. But he is bullish on Austria's market and recommends the MS Austria Index (EWO), which he owns. Tom does not think we are repeating history. He thinks stocks will be stuck in a narrow trading range for several years. Price agrees and points out that our current bear market is much deeper and longer than the one before the 1962-66 Bull Run. So, it will take longer for stocks to rise again now. Tom and Price say while the overall market will not move higher, specific stocks will. Tom likes telecom stocks like Nokia (NOK) and DJ Telecom Ishares (IYZ), which he does not own. Price recommends Charles Schwab (SCH), which he doesn't own it. Head-to-Head Neil Cavuto says people are not paying their "fair share" of taxes. In fact anyone who makes a decent living is paying way too much. The top 10 percent of earners in America pay more than two thirds of all taxes in America. And if you are in the top 10 percent that just means you make at least $87,000. That's not filthy rich. Eleanor Clift, contributing editor at Newsweek and FOX News political analyst says the top one percent are getting too much taxes cut and it should be given to the middle class. FOX on the Spot Price predicts the Dow hits 10,000 by April 2003! Tom says to buy telecom now! This beaten down sector rebounds over the next 2 years! Gregg thinks the Fed will cut rates again on worries of deflation! Jim predicts Michael Eisner's 'magic' is running out. He may get the boot from Disney! Neil says Republicans will act low key when it comes to tax cut issues. They don't want to overplay their election victory like Newt Gingrich did in 1994!

To: DeplorableIrredeemableRedneck who wrote (3002)	11/18/2002 4:30:06 PM
From: calgal	Read Replies (1) \| Respond to of 8683

Rumsfeld: U.S. Waiting for Iraqi Pattern of Misdeeds Monday, November 18, 2002 URL:http://www.foxnews.com/story/0,2933,70634,00.html SANTIAGO, Chile — The United States is waiting for a pattern of Iraqi misbehavior to emerge before going to the U.N. Security Council for debate of military action against Iraq, Defense Secretary Donald H. Rumsfeld said Sunday. Rumsfeld said Iraqi firings on U.S. and British planes patrolling no-fly zones were "unacceptable" and a violation of the latest Security Council resolution demanding Saddam Hussein disarm. But he said he knew of no immediate U.S. plans to take action because of the shootings. "It seems to me that what will happen is a pattern of behavior will evolve and then people will make judgments with respect to it," Rumsfeld told reporters flying with him to a defense ministers' summit here. Since Saddam Hussein grudgingly accepted the latest Security Council resolution Wednesday, Iraq has twice fired on coalition planes enforcing no-fly zones in northern and southern Iraq, U.S. officials say. The latest attack came Sunday, when Iraqi anti-aircraft gunners near Mosul in the northern no-fly zone fired at coalition planes, which responded with airstrikes on Iraqi military positions. The first team of U.N. weapons inspectors is to arrive in Baghdad Monday to begin preparations for ridding Iraq of its chemical, biological and nuclear weapons programs and the long-range missiles and remote-controlled airplanes to deliver them. President Bush has threatened to lead "a coalition of the willing" to disarm Saddam through military force if Iraq does not comply with the latest U.N. demands. Rumsfeld repeated warnings to Iraq's military commanders not to comply if, in the event of an invasion, Saddam orders the use of chemical or biological weapons. "Let there be no doubt anyone who is involved in the use of weapons of mass destruction will be particularly held accountable in the event it becomes necessary and the president and the U.N. make the decision to use force in Iraq," Rumsfeld said. He added that the United States understands the bulk of Iraq's regular military forces are conscripts who are "hostages to the small ruling clique." Those soldiers should lay down their arms if war erupts, Rumsfeld said. "It is certainly correct that people who stay in their barracks and people who do not engage in the use of weapons of mass destruction or attack coalition forces will not have problems," Rumsfeld said. Rumsfeld said he had not heard of any evidence suggesting that Al Qaeda leader Usama bin Laden had returned to his ancestral homeland of Yemen, where U.S. anti-terrorism operations in recent weeks killed a top leader of the terrorist group. Rumsfeld also declined to comment on a top Al Qaeda leader reported captured recently. The United States is concerned, Rumsfeld said, about reports of Al Qaeda activity in remote regions of South America and has contacted governments in the area to discuss the problem. Regional cooperation to fight terrorism, drug trafficking and other threats will be a main theme of Rumsfeld's visit to the Santiago meeting, which brings together defense ministers and other military officials from Western Hemisphere nations. Rumsfeld plans to speak at the conference's opening session Tuesday before leaving for the NATO summit in Prague later this week. Rumsfeld said he would propose greater cooperation among countries in the region in maritime operations and in worldwide peacekeeping efforts. "If one thinks of the problems in the hemisphere of smuggling and narcotrafficking and hostage-taking and the like, the closer we are able to cooperate from the standpoint of our respective navies, the greater the security environment," Rumsfeld said. The United States is proposing a program to help interested countries in the region improve their naval equipment and information, according to a Pentagon fact sheet. U.S. contributions could include help with communications and logistics, as well as sharing information and helping make sure various countries' systems can work together.