To: dennis michael patterson who wrote (57837 ) 11/21/1998 5:02:00 PM From: Dwight E. Karlsen Read Replies (1) | Respond to
"While there is little doubt that a breach of last week's low in Europe and US share markets will cause a second decline of 30-40% (from major high), please refer to our daily reports for specific timing and price levels. The overall prospects remain pointing to a bear market moving into at least next year and possibly into 2000 before a change in trend materializes. We still see a further collapse in Russia and a major disruption in both Eastern Europe and Latin America before this event is over. We also see a Clinton resignation as inevitable along with a defeat of Kohl in Germany and a collapse in the Obuchi government in Japan. Those looking for someone to pull a rabbit out of the hat should not look to the Fed. While lowering interest rates by the Fed will help to reduce perhaps the magnitude of the overall decline – it will NOT reverse the trend back to new highs and prosperity for all!" princetoneconomics.com
