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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (1528)	8/4/1998 7:46:00 PM
From: bw	Read Replies (1) \| Respond to of 14427

The market needed a correction, so the psychology shifts to over-emphasising the importance of negative factors, ie. Clinton's zipper, a single-analyst's comments made on CNBC, global meltdown because of Asia problems, etc, etc, etc... The US economy, in fact, is running a federal budget surplus, practicing a modest fiscal conservatism [for them, anyway..even if this means doing nothing], jobs plentiful, no inflation, crime down.... Japan's banks have severe debt incurred due to bad Asian loans, but the main gripe with their economy is that they save too much money! Seems like the kind of problem I would like to have. Japan is dependent on imported petroleum...too cheap at these levels? Sounds like disaster there too.<g> Yen's value has declined against the dollar. Meltdown for Japanese exports? It was reported yesterday that Toyota's sales were up something like 40% in U.S. for the quarter. As to oil...the integrated oils are sitting in the catbird seat as usual. Any questions as to who really controls the economy? These mega-economonsters never stopped charging less than $1.35 for their gas in all of N.Calif. during "the lowest prices in 20 years". I use this as an example, since there must be other service areas being gouged in similar fashion. They now have won the battle with the drillers regarding too high day rates. Why haven't the majors' stocks suffered like the OS sector? YUP..keep exploration costs down while controlling production and distribution. Or, if need be...just import the stuff on the cheap and forget the E&P altogether? The integrateds have things the way they wanted...They're not going to leave the party now with reduced E&P costs going forward. Why do I think that oil will go back to the +$15 range within the next 3 months? Answer: So the oil companies, OPEC producers, et.al. can gouge us consumers to the upper extent of their ability! Pure Capitalism.. Ahh..."nothing like the smell of napalm in the morning"