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Pastimes : A Jackass, his PAL(indrome), and GOLD -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (584)	2/4/2003 11:42:31 PM
From: Mannie	Read Replies (2) \| Respond to of 1210

Dirty old dude.. That piece read like lyrics to a song..very nice. I think Gil Scott Heron would do it justice.. or maybe Eminem...

To: Jim Willie CB who wrote (584)	2/5/2003 1:03:43 AM
From: techguerrilla	Read Replies (2) \| Respond to of 1210

"American culture" ..... ..... a deafening silence ..... an oxymoron See you Dublin /sean

To: Jim Willie CB who wrote (584)	2/5/2003 2:14:51 AM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 1210

well painted - decisive, unforgiving strokes in red, white, blue and black. My appreciation, jw dj

To: Jim Willie CB who wrote (584)	2/5/2003 8:38:08 AM
From: Kip518	Respond to of 1210

From Rev Shark this morning: Bear Claw 2/05/03 08:29 AM ET Here is a sobering observation to begin the morning with. The FTSE All Share Index is currently below its 1969 level in real terms. This statement, made by Eric Lonergan as quoted by Martin Wolf in Monday's Financial Times, was so sobering to me I had to recheck it five times. In real terms the FTSE is now below where it was 34 years ago. Wow. It all brings home the horrendous damage a bear market can bring. For another perspective, consider a paper entitled "Comparing Bear Markets -1973 and 2000," by Philip Davis of Brunel University in West London. Writing in the latest National Institute Economic Review, Dr. Davis makes the following observation about the early 1970s bear market: In "the U.K. France and Italy, the troughs of real share prices were around 70-80 per cent below their previous peaks. In the U.S., Canada, Germany and Japan, the falls were a still-sizeable 40-60 per cent. Shares took an extremely long time to recover their original real value." "The earliest to regain their previous levels were Germany and Japan, dynamic economies at the time, where the recovery took eleven years to 1985. Elsewhere, only the UK, Italy (briefly) and France recovered their previous real value in the 1980s. The US market only recovered its end-1972 real value in August 1993, and Canada in October 1996." Did you know that the U.S. market took 21 years to regain its real value after the early 1970s bear market? Timing does matter. It should be noted that in the 1970s, inflation was running at much higher levels than it is now, so perhaps the recovery period now will not be quite as long as it was then. But again, it brings the crushing damage of the present bear market into perspective. It seems that there are now two camps with regard to the current bear market. One is that we are near the end timewise, depending on the outcome of the Iraqi conflict. The other is that because of the still-necessary adjustments from the bubble we've been through, there is another substantial leg down to come. On this latter point, Dr. Davis observes that "a further leg of share price falls is conceivable, possibly 'overshooting' fundamentals, and equally some features of the current bear market may yet lead to economic and financial difficulties. One is the pattern of sectoral imbalances, and in particular the US external and private imbalances, which far exceed those seen in 1972-5, and which could yet unwind rapidly, destabilising the US and the world economies. In this context a further danger point is the buoyancy of house prices, in the context of a liberalised financial system. This is leading to widespread growth of debt, that could yet lead to a much worse economic and financial situation if the housing boom reverses itself sharply with share prices and corporate investment still subdued." thestreet.com