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

To: smolejv@gmx.net who wrote (27268)	1/10/2003 6:48:59 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 74559

Uncle Al as an angel. Hmmm. He doesn't really have an angelic visage. I suppose the keeper of value has to be hardened to the pleadings of the indigent and those suffering from the vicissitudes of financial mayhem and the resulting actual life-losing failures which can result. He really needs to be a scrooge. His very face gives the lie to the claims of his being "Easy Al", which is the claim of so many seeking to find a simple excuse and scapegoat for the foolish mob hysteria which was the cause of the over-valuation of shares, especially of the dot.com variety. If easy money was a major cause of share price rises, the effect would not have been nearly all limited to the Biotelecosmictechdot.com shares. It would have been as equally spread across the boring old Dow cows. Sure, there was some turbo-charging of the prosaic Dow stocks, which is not surprising in a 'get rich quick' mania, but not much given that the Dow is only down by 25%, which is not even out of the ordinary in volatility terms. Uncle Al is just what he should be = a Scrooge-like figure, defending the value of a dollar and leveraging it to be the world's pre-eminent currency, returning maximal profits to the owners of the currency, which is the USA citizen, via the USA government. Sure, the baying mob wants to tear down the gates and destroy the US$. Well, let's hope they don't get their wish. King George II isn't going to let it happen. He knows the $ must stay tough and valued and secure and the devil take the hindmost. It's the rule of the jungle. Red in tooth and claw. Hobbesian RULZ OK. Going soft, wishy-washy and sloppy will not be good in the long run. I would NOT want to be owing a bunch of US$ now - when interest rates go UP, it's going to be quite a shock to a LOT of people. Mqurice