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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Gary Burton who wrote (6433)	7/30/1998 6:12:00 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 10921

on KLIC, just shows one must separate stock from company... maybe KLIC should spend more time selling their wares than their stock on 1970 super yen... just made a loose comment of Volker era 230 yen... really surprised to read figures of 350 on yen... I was a college rioter back then in Ohio... been digging up memories on ride home from office... dollar, rates, stocks, profits my recollection... Nixon wage price freeze Aug71... I sued my landlord and won on rent hikes... he had 300 units and hated me... this weakened the US economy as supply and demand went out of kilter... profits began to erode, since they were a legislated entity... when freeze lifted in 1972, the dollar was weakening but still strong relative to yen, and profits were tough to come by... then Watergate arrived in spring73 and the stock market got a shock... our political leadership was totally paralyzed, foreign investors pulled out but 1973 was when the disastrous wage price freeze was reversed in the marketplace... inflation made up for lost time... price had to rise quickly to encourage supply... interest rates rose to unseen levels over 10%... this led to strengthening again of the dollar, now worldwide, not just vis-a-vis yen Volker was playing little chemistry laboratory games back then with money supply... US was logging big federal deficits... pols thought money supply was nice way to pay for debt, and voters dont vote on such matters all the while the Arabs were getting pissed off that their dollar denominated investments were eroding... we urged Arabs to invest in the US economy so the capital would not disappear... they agreed... so in their anger of 1973 they raised oil prices 4-fold... this was the final blow that led to the bear market of 1973-74 and the recession some details are off, but pretty sure point is 140-150 dollar/yen is no big deal historically thanks for Fred data / Jim Willie