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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (234695)	4/10/2003 10:20:54 AM
From: Tommaso	Read Replies (1) \| Respond to of 436258

I was in college when the first Sputnik went up, but that was my immediate reaction. "It means they can blow us all up!" I exclaimed to a professor of political science. "Well, let's hope they won't want to," was his reply--which seemed unconvincing to me at the time, but I guess that's what deterrence was all about. I'm sure you are right about the ultimate much deeper decline of the general markets, but I am just so wearied out with being a bear that I am cutting my short-side positions anyway by about 40%. I think I can do as well being long the right energy stocks as I can being short the fluffy stuff. Looks like Fed might be willing--a la Japan--to go almost to zero interest rates, and that might mean it would take the markets another three years to decline by another 30%. Meantime, I can get as much as 20% p. a. yield on Canadian natural gas royalty trusts with a chance of capital gains as well--even if they start pumping Iraq dry. Incidentally, I am amazed to see Iraq cave in with less fighting than Mexico put up in the Mexican War. I guess tanks are a lot scarier than horses.