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To: Ron who wrote (23408)	3/11/2005 9:26:56 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 48463

Xlnt read, thanks... That guy is a brilliant writer> "The attitude of most Americans is that the US economy must be thriving because of the bullish stock market. They see and hear this on TV and other media, even though their first hand experience is usually otherwise. Our corporations are given the freest policies in the world and they make the most of it in the view of most Americans. What is good for corporate America is good for America. The general policy trend is for even more freedom in our free market. Mark Haynes, a financial TV personality, jokingly refers to Europeans as “socialists.” The not too subtle message is leave corporate America alone – what’s good for business is good for America, and the success of our stock market confirms his point on a daily basis. (Or so it seems.)" "Without any serious critical review from the public, our media is suffering. Barron’s put out an article on the same day as Warren Buffett’s Annual Report, describing the case for Cisco as a “value stock.” This is the same Cisco that never paid a dividend, and produced only negligible gains in shareholder equity over the last 5 years. In the sound bite loving stock market, the softball article was good for a 5% stock market boost. Given the seemingly full support of shareholders, corporations can manage themselves with the backing (or better yet, apathy) of their shareholders. Managements run amuck with their compensation packages, options grants, and most unethically, manage their companies for the short term to better kite the stock price and unload truckloads of exercised options. Managements provide mid-quarter updates yet don’t provide any long term vision to their shareholders. It doesn’t matter as long as they “beat by a penny.” Managements rarely get called onto the carpet by the financial media until they get to the WorldCom or Enron stage. By that time it’s usually too late. How is the long term stock market judging this short term management behavior? If stock and bond prices were more soberly priced, the public would be more inclined to more soberly consider whether what’s best for corporate America is always best for America."

To: Ron who wrote (23408)	3/11/2005 10:29:14 AM
From: Bucky Katt	Respond to of 48463

Another good read> Back in the states Thursday, Alan Greenspan and Ben Bernanke both made an impressive tag team performance - battering worries about the rapidly growing current account deficit. In official, but separate speeches at different locations, the duo blamed the current account deficit on excess savings and low inflation expectations. Bernanke's speech was entitled "The Global Saving Glut and the U.S. Current Account Deficit." The title almost says it all. Other countries are to blame here. The US is just a good place for other countries to invest. Greenspan's comments were simply called "Globalization." The Maestro believes that Adam Smith's "invisible hand" remains at work on a global scale. Although he does perceive the current account as huge, the US will make a smooth transition to a lower current account deficit. Somehow. Yes, these shows will end one day, thankfully. The dollar can not survive current account deficits of over $700 billion per year indefinitely. The Asian central bankers will find a way out - eventually - and Koizumi can pursue a retirement career in the 'no' theater. Greenspan will retire, and maybe Bernanke will just move on to the Council of Economic advisors. Meanwhile, we better all start looking for the dollar exits. wallstreetexaminer.com