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To: Shack who wrote (80268)	8/30/2003 8:57:14 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 209892

Would agree, for the simple reason that there is much bearishness due to "seasonal" factors. With REFI out of the way and the FED still pumping liquidity money will go into assets that rose recently and that are the financial instruments. Further the economic numbers are skewed to growth event that most of the growth comes from defense expenditure ....... which is actually a drag on economy. Unfortunate a cruise missile or Humvee is very expensive and adds more to GDP than let say an SUV This inflates everything from the PMI to the GDP but is a negative on the economy as it is not use for economic purposes and only increases the Budget deficit and national debt. TO date the war in Iraq is a drag not an economy enhancer as I was thinking back in March. The problem is that the US was ill prepared to take over the civilian administration there and all the Iraqi Exile leaders failed very badly to hold to their promises...... they all are now fighting between themselves for power instead of helping to resurrect a democratic Iraq. As a result oil prices remained high and Iraq does not pay for itself but the US must pay $4 to $5 billion each month. IMHO the toppling of Saddam was a brilliant idea but the stage 2 execution a failure due to misjudgment of the power, will and integrity of the leadership of the Iraqi exiles. Those mistakes are a result of the ill conceived American approach which is that all people are thinking for like us and have similar values. As regarded to the ME it is completely not true and that is why we had disaster of Sept. 11 and continuos conflict in the ME. Arabs think very differently from us or Europe their value of life family or social order is rule by completely different values were submission to the cause of " Allah" takes center stage and life after death on earth is a reality. One should read "Milestones" or in the Shade of Qur'an by Sayyd Qutb an Egyptian philosopher accepted by many arabs and will shudder from learning what he wrote it is a complete accusation of western civilization which in Qutb opinion must be destroyed by any price so that Islam with it's natural harmony should rule the world. TO get a glimpse resulting from Qutb teaching I would quote from an article from the NYT about Qutb followers "We keep learning how well educated these people are, how many of them come from the upper class, how wealthy they are. And there is no reason for us to be surprised. These people are in possession of a powerful philosophy, which is Sayyid Qutb's. They are in possession of a gigantic work ofliterature, which is his "In the Shade of the Qur'an." These people feel that, by consulting their own doctrines, they can explain the unhappiness of the world. They feel that, with an intense study of the Koran, as directed by Qutb and his fellow thinkers, they can make sense of thousands of years of theological error. They feel that, in Qutb's notion of shariah, they command the principles of a perfect society. These people believe that, in the entire world, they alone are preserving Islam from extinction. They feel they are benefiting the world, even if they are committing random massacres. They are certainly not worried about death. Qutb gave these people a reason to yearn for death. Wisdom, piety, death and immortality are, in his vision of the world, the same. For a pious life is a life of struggle or jihad for Islam, and struggle means martyrdom. We may think: those are creepy ideas. And yes, the ideas are creepy. But there is, in Qutb's presentation, a weird allure in those ideas ................ The followers of Qutb speak, in their wild fashion, of enormous human problems, and they urge one another to death and to murder.