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Strategies & Market Trends : Bill Fleckenstein, the BEAR! Is he finally right? -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (16)	9/2/1998 10:57:00 PM
From: Jose Matos	Read Replies (2) \| Respond to of 259

I disagree with your notion that Russia is but a mere blip compared to the problems of SEA. The basic reason for the US declines due to Russia's turmoil are not due to the devaluation of the "rubble" but rather the impending civil war and general political instability. This is not rocket science. Just think about what the relatively minor Clinton scandal has done to the market. Not because anyone cares if Bill is getting a little nooky on the side, but because of the potential political turmoil that it creates. It has occurred in the past. Remember NIXON and the watergate effects on the Dow? The fact that Russian citizens are facing financial crisis where food is becoming increasingly more expensive, Yeltsin's days may be numbered, if not by choice then by force. That instability and the "who's watching the missiles" reality is the root of the US problems. Not whether or not their financial problems will affect US exports to Russia. And Problems of this nature are not easily or quickly resolved. For that reason I'm short several Russian equities and practically any internet stock, especially after a good dead cat bounce. Regards. Jose.