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James Taylor again predicts the apocalypse with:
> You will need the ammo when this massive US market bubble breaks, tens of
> millions are unemployed and homeless, and the crime wave spreads like wild
> fire.
I've resisted replying to this tripe but enough already. James, if you
really believe that, you should do 2 things. First, short the stock
market. Second, buy gold, guns and grub (the 3 Gs) and head for a cave
in the hills. Have you done either or do you just enjoy trolling email
lists hoping to get a response to your outrageous remarks?
My take.... sure there will be a crash sometime. So what? We've had lots
of them in the past. Most americans have their paper stock wealth in
retirement accounts and a crash won't affect their current standard of
living. All that will happen is they will have less money than they
expected for retirement but they probably didn't deserve that money
anyway. If they really expected the market to go up 30% a year to
infinity, they are fools and they deserve what they get.
James likes to paint Alan Greenspan as the Great Satan. While I don't
think he's God, I think he's done a pretty good job. We've had good
growth in the economy and inflation has stayed under control. That's
about the best you can expect from a central bank. James thinks
Greenspan should manipulate the stock market to prevent a "bubble". I
say the Fed should stay the hell out of the stock market. It will take
care of itself just fine. Meanwhile, I'll continue to short-term trade
the long side until something changes.
Contrarily,
Dennis
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