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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: mopgcw who wrote (10608)	2/25/2004 1:52:54 AM
From: John Metcalf	Respond to of 52153

"One could also argue that the the dollar is in decline only because of the political will to let it decline as a stimulus to the economy" Certainly so. And cynicism in a valuation thread is no vice, to update a forty-year old canard. There are many factors in the decline of USD. Consider this: If there were not gov't acquiescence in the slide, what would change? Would rates rise in defense of USD, as they have in defense of the Pound? Would domestic production decrease, unemployment increase if we defended the dollar? Would there be mortgage defaults, declining household balance sheets, increasing bankruptcies, increasing welfare expenditures? "Be careful what you wish for", Buddha said. Though not a great investor, he was far wiser than I. I wish (see above) that there were more sincere interest in the macro questions, and less mendacity on behalf of political candidates. Four years ago, there were vehement political protestations on behalf of "Social Security lockbox" and "honest broker in the Middle East"! If you bought into either of these precepts, are you puking now? Which bit of demagoguery would have advanced us over these several years? After all this decline since Y2K, what should we do? Bite the bullet? Wait until it bites us? Tolerate decline? Nuke our neighbors? Politics retards serious discussion, IMO, because it degenerates to jingoism to motivate anyone to vote at all, for any clown, of any stripe, color, polka dot, or paisley. Big nose or big shoe, red nose or red hair, baggy pants or barrel-on-suspenders, candidates become characatures of abstractions, donning the greasepaint of 51% poll results based on conversations with people who have neither answering machines nor caller ID, and too much time on their hands. Rant off. (meekly: the macro questions are very important, but not political in any immediate sense.)