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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 (7789)	2/11/2004 9:10:45 PM
From: Chispas	Read Replies (2) \| Respond to of 110194

Jim, you mentioned Bernie Sanders.... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Congressman Bernard Sanders, a Vermont independent out of Burlington, goaded Alan Greenspan into saying that the economy was mostly conceptual. The question I have is what happens when a society needs something tangible or actual? Examples of the actual would be oil, electricity, minerals, transportation, and national defense just to name a few. I think we are seeing the migration of most of our remaining actual jobs, and some of our conceptual jobs, to other regions of the world. This leaves the US with two types of jobs: the low paying actual jobs in Wal-Mart and McDonalds and higher paying conceptual jobs in the financial-based economy. Conceptual jobs include positions like stockbroker, insurance underwriter, mortgage broker, and a host of other vocations that are only productive if they move capital into real things like technology, agriculture, energy, intellectual property, mining and manufacturing. These professions take a cut (a piece of the action) for matching the demand for capital with capital (other people's money, savings etc). Easy money has been flying around the country, very little of which can find a return given that the return has been scalped off in a massive conceptual con game. This is the reason your mortgage is 6% but the interest rate you can get in a savings account is 0.6%. The 5.4% that you will never see is paying a conceptual person's salary which creates no true productivity but rather is simply a drain of effort. Conceptual jobs are real jobs to the people that hold them but a country cannot be sustained indefinitely without providing a return on investment in basic traditional enterprise. Savings must to be able to find a return to true productivity of industry and intellect. How long can a conceptual economy sustain itself will be a question that will shortly be answered to the dismay of most Americans. Are you conceptual or actual? If you are conceptual and you do not hold gold you will be "up the creek without a paddle." (Snipped from Jim Sinclair's site.)