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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (664)	9/10/2003 11:28:43 AM
From: I_C_Deadpeople	Read Replies (2) \| Respond to of 110194

I believe Norman was telling everyone to short NEM at $32 a few months ago.

To: Jim Willie CB who wrote (664)	9/10/2003 12:03:29 PM
From: Silver Super Bull	Read Replies (1) \| Respond to of 110194

Today's Daily Reckoning comes out swinging. An excerpt: "If the economy really were expanding the way we are told - at better than 3% GDP growth per year - it should be creating 200,000 to 300,000 new jobs per month, points out John Crudele in the NY Post. Instead, for 7 months in a row, jobs have been cut... with 93,000 hacked off in August. What kind of a recovery is this? It is a fraud... the latest in a whole chain of fraud that stretches back to the Nixon administration... and even before. GDP growth is calculated by taking nominal growth figures and subtracting inflation. If the economy were flat, for example, and inflation were running at 3% per year, the government would tell us that GDP was shrinking at 3% per year. The secret of the latest 'growth' figures lies in the inflation rate, which the government calculates at 0.8% in the last quarter, rather than the 2.4% figure in used in the first quarter. Result: GDP growth came in above 3% rather than the 1.5% it would have otherwise reported. Of course, were military spending increases and phony 'hedonic' enhancements removed, the GDP growth figure would probably be negative." dailyreckoning.com