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


To: Louis V. Lambrecht who wrote (36065)7/14/2003 12:26:01 PM
From: Raymond Duray  Read Replies (3) | Respond to of 74559
 
Louis,

I regard the machine tool news to be extremely ominous. The banks and INTC can not prosper in a future where the U.S. no longer has a manufacturing base. I'm darn skeptical the smoke and mirrors financial structure we're creating in the U.S. Highly reminiscent of the wonderful South Seas Scheme of 1720....

"Progress is cumulative in science and engineering but cyclical in finance." --James Grant, The Interest Rate Observer