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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (35703)	8/22/2005 5:43:42 PM
From: mishedlo	Read Replies (3) \| Respond to of 116555

Date: Mon Aug 22 2005 13:40 trotsky (@stunning idiocy) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved John Maynard Keynes wrote: " If the Treasury were to fill old bottles with banknotes, bury them at suitable depths in disused coal mines which are then filled up to the surface with town rubbish, and leave it to private enterprise on well-tried principles of laissez-faire to dig the notes up again ( the right to do so being obtained, of course by tendering for leases of the note-bearing territory ) , there need be no more unemployment and with the help of the repercussions, the real income of the community, and its capital wealth also, would probably become a good deal greater than it actually is." this has to be one of the most moronic statements ever uttered by an economist, dead or alive. it's right up there with Kudlow yearning for more broken windows. if one consider that Keynes was one of the 'most influental thinkers in 20th century economics' all that's left is to shudderingly reach for the barf bag. note that practically all 'economic policy' these days is based on Keynes' theories ( that's where Bernanke's helicopters ultimately come from ) . Japan's long hard post bubble slog was made possible by liberally applying the Keyensian bandages to the illest effect possible. an amazing post mortem achievement by the man - he's radiating misery for entire peoples and generations from the grave. Date: Mon Aug 22 2005 13:15 trotsky (correlations) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved there is no sign yet that the long term negative correlation between pm stocks and the broader stock market is coming to the fore. the short to medium term positive correlation between these markets still overrules even the correlation between pm stocks and gold. so if the stock market tanks, it'll probably take the pm stocks down with it - until the Fed stops hiking and the yield curve consequently steepens ( which in turn probably requires that stocks and commodities tank - it's one of those mythical signals the bureaucrats use to divine the 'proper' FF rate ) . Date: Mon Aug 22 2005 11:14 trotsky (@pm stocks) ID#248269: doesn't look like today's rally will hold. money flows turning slightly negative.