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I'm not thinking
MASSIVE here, only LONG-TERM.
The current
economic condition is SYSTEMIC....and thus resistant to "Quick
fixes".
Part of my
bearishness comes from the current high PE Ratios for one....there just seems to
be so much ANTICIPATION for a big recovery here...
I don't see it,
quite frankly.
Bush fired Laurel
and Hardy (O'Neill and Lindsay) because they told him you can't cut taxes,
wage expensive war, and continue sponsoring a huge, costly bureaucracy in
Washington....it's economic suicide in the long run.
Bush did not want
to hear this....moreover, h<FONT
color=#0000ff size=2>e's "dumb"...economically.
That's why he
fired them....but THEY were right.
These deficit
projections are just the tip-of-the-iceberg.......and incredibly, there is still
no talk of government cut-backs in spending programs and transfer
payments.....just incredible !
Unfortunately,
Bush may be out of office before this is proven correct.....
<FONT color=#0000ff
size=2>
<FONT color=#0000ff
size=2>
<BLOCKQUOTE
>
<FONT face=Tahoma
size=2>-----Original Message-----From: Kent Rollins
[mailto:kentr@xxxxxxxxxxxxxx]Sent: Friday, May 23, 2003 8:16
AMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: Re[3]:
[RT] spx daily
How can YOU ignore everything besides the tech
sector? If everything but the tech sector has turned the corner on the
economy, that sounds like a good thing to me.
With respect to the "derivatives bubble", prove
to me that there is one. This is the first I've heard about it.
Lately, Warren Buffet has been saying a lot of stuff with which
I don't agree.
FYI, consumers have been repairing their balance
sheets as well. Sorry I can't remember the numbers on that one
either. It's not as dramatic as the improvements on the corporate side,
but it was an improvement.
So you're joining Simms on
predicting MASSIVE Great Depression II.
Kent Rollins
----- Original Message -----
From: <A
title=bradcline@xxxxxxxxx href="">Brad Cline
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Friday, May 23, 2003 2:08 AM
Subject: RE: Re[3]: [RT] spx daily
How
can you ignore the tech sector? That's like pro forma accounting. If I didn't
have to make my house payment everything is rosy. The markets have seen
their lows only if the derivitivies bubble doesn't burst, or consumer debt
doesn't come home to roost. Warren Buffet has said that derivities are a "time
bomb" waiting to happen. Maybe the fed will be able to balance everything out
over time but I wouldn't bet on it.
<BLOCKQUOTE
>
<FONT face="Times New Roman"
size=2>-----Original Message-----From: Kent Rollins
[mailto:kentr@xxxxxxxxxxxxxx]Sent: Thursday, May 22, 2003 8:12
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: Re[3]:
[RT] spx daily
Corporations have been doing balance sheet
repair for 2 years now. AT&T alone has eliminate over $50 BILLION
in debt. I saw on the tube last week someone who had a stunning
statistic on what the S&P profits are if you ignore the tech
sector. Wish I could remember what that statistic was. And the
tech sector will fall in line soon enough. You are stuck in a
rut. The markets have seen their lows. Shake it
off.
Kent RollinsTo
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