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To: JD who wrote (6998)1/31/1998 10:31:00 AM
From: alex ma  Respond to of 116762
 
Another interesting article in The Financial Post January 31, 1998.
Highlights:
1. US consumers deeper in debt
2. Record high credit card debt, $523Billion, almost as much as Asia's insolvent loans
3. Unexplained bankruptcies in this high growth stage
4. Worried that this bubble will burst once the economy into a deep slide because Asia's problem.

Sorry, no URL because the article in not online.

Alex



To: JD who wrote (6998)1/31/1998 10:39:00 AM
From: Little Joe  Read Replies (2) | Respond to of 116762
 
JD:

I believe that this news coupled with placer's reaction to it, is a strong sign that gold is bottoming. Placer has absorbed a lot of bad news lately. Delay at Cristofero and now this and stock has not plunged as you might expect. Of course the article is dated on Saturday, but I think the market has already discounted this. If Placer holds on Monday, it is almost certain we have seen the bottom.

Live long and prosper,

Littel joe


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