|
PureBytes Links
Trading Reference Links
|
RealTraders,
As anyone watching the YEN can attest, the call for wave 3 down
looks to
be wrong. Pretty good chance I'll be stopped out of Sept. @ 88.51.
No, I did not take any profits in the YEN's shallow down draft.
Probably should have, sometimes (maybe often) I'll get fixated on
the
expected outcome.
Rory Lewellen
Rory Lewellen wrote:
>
> RealTraders,
>
> The YEN looks to be nearing the end of a corrective Elliott
> wave 2,
> at the confluence of Fibonacci time and price projections;
> illustrated
> by the attached chart.
> If this interpretation is correct, the meat of the downtrend would
> be
> close at hand.
>
> Rory Lewellen
>
> RL2946@xxxxxxxxx
>
>
>
>
> BruceB wrote:
> >
> > Schumpeter's principle of creative destruction basically says that in order
> > for an economy to grow and for living standards to improve, both the
> > business sector and government must let obsolete companies and even entire
> > industries fail, in order to free up resources which can then be invested in
> > new industries.
> >
> > The most visible way to see creative destruction in action is to look at the
> > unemployment numbers. For several years now, the number of newly unemployed
> > persons in any given month has been very high, and yet the overall
> > unemployment rate has been falling at the same time. This tells us that
> > workers are being let go from failing industries and being rehired by newer,
> > growing companies that need the manpower. It's not always this simple.
> > People can be let go from a perfectly healthy company simply because that
> > firm has made significant capital investments and is now much more
> > productive (and therefore needs newer workers), but you get the idea.
> >
> > I didn't see the NYT article about Japan, but I bet they were commenting on
> > how their society/business sector/government has simply refused to let
> > inefficient companies fail, and therefore the workforces of stagnant
> > industries have remained artificially high, which stifles the creative
> > process. They seem to have reach the level of economic pain, however, where
> > that is beginning to change...
> >
> > Bruce
> >
> > ----- Original Message -----
> > From: <terese2@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxx>
> > Sent: Monday, August 02, 1999 8:14 PM
> > Subject: Econ101
> >
> > > I just finished reading the Sunday New York Times article about Japan's
> > economy. Very interesting
> > > reading but what is Schumpeters "creative destruction"? Is it the high
> > speed of market
> > > deterioration with respect to ..........???? Is it the redistribution of
> > capital?
> > > any comments appreciated
> > > Terese
> > >
> > >
> > >
>
> ------------------------------------------------------------------------
> [Image]
|