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

To: Mannie who wrote (17621)	4/21/2003 1:32:53 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

Martin Weiss is nation's top debt analyst, HIS VIEWS on 2003 7 FINANCIAL PLAGUES WILL SMASH STOCKS AGAIN IN 2003-2004 1. the great real estate bubble is about to burst - more job losses ahead - panic sales of vacation homes has hit the market - mortgage rates can only go up from here 2. $2.4 trillion pension underfunding crisis - Verizon has over $1B loss in 2001, turned into $390M profit after raiding their pension fund - Kodak lost over $20M in 2002, turned into $76M profit - ditto Northrup Grumman, Weyerhauser, Con Edison, Boeing 3. SECOND Asia Contagion now underway - four giant Japanese banks (Mizuho, Sumitomo, UFG, Mitsubishi Tokyo) recently wrote off $21.5B - new loans are going bad in Japan faster than writeoffs - Japanese Nikkei now below critical support levels - Nikkei is at 19-yr lows 4. American bankruptcy process has only begun - 253 large public companies have net value of combined MINUS $10.2 Billion, yet their mktcap is combined $13B - Saks has 6c per every $1 shorterm debt - Ford has $165B in debt, 27c cash for every $1 in debt due in next 12 months - Verizon has $61B debt, annual interest cost of $31.B, and generates no income - ditto Maytag, Allied Waste, Nextel 5. Washington DC laws will hurt Wall Street - wrapup soon on 47 brokerage investigations for fraud 6. American large banks suffering major loan losses - FedGov Meyer claims major banks hold $400B in venture capital deals, mostly gone bad - e.g. Wells Fargo, JPMorgan, Fleet, First Union, Bank One, Bank of America - Citibank bad loans from $5.2B to $7.3B in just six months - Washington Mutual bad loans surged 45% in 6 months - Mellon bad loans jumped 213% in 6 months 7. Second Gulf War will send oil and gas prices skyrocketing - if terrorist attacks hit Saudi Arabia, then $100 oil - Saudi Arabia and Kuwait are home to many radical groups - King Fahd is in a Swiss hospital now, dont know his own name I once subscribed to the Weiss Safe Money Report that was back in 1996 ever since I receive solicitations from him I have noticed one big fact of life regarding Weiss WEISS PREDICTIONS COME TRUE, BUT HIS TIMING IS OFF he now expects Dow 5000 eventually he expected Japanese Nikkei to make new lows in 2002 it happened in early 2003 one smart cookie, who studies debt like a hawk in this environment, it is good to listen to debt experts / jim