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To: abuelita who wrote (4341)12/4/2003 11:40:41 PM
From: Jim Willie CB  Respond to of 108614
 
Barrick continues to destroy its longterm debt picture
that is the "unspoken truth" on the forward contract rollovers
these guys are the SCUM OF THE EARTH
their executives originally came exclusively from the finance industry
thus the ties to bullion bankers and gold cartel

they boast of immunity from hedgebook losses
with rollovers of forward contracts
PURE LIES, PURE BULLSHIT, PURE DECEPTION

they exchange an underwater contract for another new one
with serious damage to their longterm debt on the realized loss

watch that story come out by next year
a LT debt on their balance sheet which resembles Genl Motors
sure, earnings and nice avg gold price on sales
but no shareholder equity to speak of

/ jim



To: abuelita who wrote (4341)12/5/2003 10:10:19 AM
From: Jim Willie CB  Read Replies (3) | Respond to of 108614
 
interesting 3-way debate among economists on CNBC

first, Kudlow expects job growth will lag but arrive
he is an utter idiot unaware of any changes to the USEconomy in the last 10 years
he is a supply sider who ignores all debt growth, all dangerous monetary growth, all trade friction, and all twin tower national aggregate debts (trade, federal)

Bill Sullivan is a solid economist at Morgan Stanley
that is also the home of my favorite Stephen Roach
Sully warns that job growth has been and will continue to be interrupted by structural change via job creation and export to Asia
I call it "joibus interruptus" which halts all aggregate anticipated orgasm

former Labor Secy Robt Reich believes also that job creation will continue to disappoint
speaking from his miniature 4'10" frame with a fullsized mouthpiece, he warns that technological advances and globalization forces combine to undermine domestic job growth
he must refer to broadband internet transmissions, fiberoptic longdistance telephone, easy teleconferencing, and excellent collaborative software which all enable export in outsourcing of work

then that birdbrain Labor Secy Elaine Chao spoke about the glowing jobless rate dropping to 5.9%
how it declines when job growth was puney and job losses continue, is beyond my grasp
the USEconomy requires 150k new jobs created in order to tread water
she should have stressed how the govt loves to avoid counting all jobless candidates who no longer qualify for benefits, are therefore ignored, which aids the statistical process
this woman is a certifiable moron, but quite cute

I wonder if Kudlow is paid to be stupid, CNBC vested interest
I know Chao is paid to be not only stupid, but also deceptive

/ jim