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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: valueminded who wrote (31221)	8/18/1998 8:00:00 AM
From: Earlie	Read Replies (3) \| Respond to of 132070

Chris: Good question. One that I've been concerned with for some time. The simple answer is that I don't know. I think we're going to get elements of both in the up-coming period. Central banks fear deflation more than inflation, so they will try to print their way out of this deflationary attack. I suspect it won't delay the inevitable this time (check monicker as you read this). I think we are well past the point of no return this time, and "pushing on a string" (a 1930's expression) is reborn. Certainly the Japanese understand what it means. What makes sense to me is minimal personal debt, hopefully employment that is secure (does such a thing exist?), and capital employed in shorts and puts. While it probably sounds paranoid, one has to remember that the financial system is not enamoured with the Darth Vader Society ("shorts", to the unititiated), and has historically found several ways to "screw' them (I hesitate to use that particular verb at this juncture in American politics, but couldn't resist). (g) I've never liked gold. Always thought it was a mugs' game. Starting to rethink that point of view. If the U.S. dollar gets hit (and that is inevitable from my point of view), then gold's lustre returns. Asians holding gold when the firestorms hit survived. I'd enjoy hearing the thoughts of others on this topic. Best, Earlie