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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: John Hunt who wrote (22733)	11/8/1998 6:52:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 116770

Prudent Bear Commentary Nov 6 prudentbear.com << With deteriorating fundamentals obviously not justifying ever-higher stock prices, all eyes are now turning to the force behind surging stocks, excess liquidity. Importantly, the overheated financial system is creating too much credit which is feeding into the stock market. Yesterday the Federal Reserve announced that the money supply is growing at an annualized rate of almost 16%, the highest money creation since our economy was coming out of a prolonged business slump back in 1982. The important difference today being that money supply is exploding at the same time that the economy is slowing. Clearly, credit is being created in the financial markets to purchase financial assets instead of financing economic growth. Dangerously, as the economy slips into recession, stock prices surge due to too much money. This is a textbook case of a massive credit and asset bubble that will end in disaster. >>