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

To: Stock Farmer who wrote (34134)	5/21/2003 6:12:39 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<<<The weakness of the pixelated promise is that it depends on collective political entities = governments and their mob ruled electorates, which are notoriously volatile, ignorant and self-destructive.>> Seems that the Q shares this same weakness, no? Where the voting machine of the mob-ruled electorate is spelled n.a.s.d.a.q. ?> John, you are right in a narrow sense, just as the currency markets yank the US$ up and down, hunting for the 'right' level. But you are completely wrong in the causal relationships part of it. The number of Q on the market is a function of shareholders voting their shares and the management printing more of them as required by shareholders. Management which prints a lot and awards them to themselves will not find they will be selected to run the world's currency. Management which runs a tight monetary ship will be rewarded with success. The point about electorates is that they do not have parallel interests, unlike shareholders. Some voters vote for more dole, new rockets, more citizen spying, or some other vested, individual interest and the process extracts money from others to pay for their particular interests. The politicians are beholden to the process because electorates work on concentrated benefits but diffuse costs, making a special interest group able to get money and the politician safe in supplying it because it's only a few cents for everyone else. On the money supply, not all voters have equal interests. There is pressure to print because politicians need to pay their special interest supporters. Shareholders and voters are not equivalent. The share markets and currency exchanges are not the issue. The markets just weigh the decisions of the shareholders and voters. You are so lucky to have me to set you right on this stuff. Please send money. Mqurice PS: A real person who knows stuff comments [more or less] on the matter here Message 18962526