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I think it was my post to which you were referring. I offer a few
comments:
- Although you can slide and dice the reasons/motivations, people who want
jobs and do not have them are unemployed. There are many menial jobs which are
available, however forcing people to take jobs which are below their skill
and/or education level is not the hallmark of a healthy jobs economy. A
minimum wage job in today's economy will not pay the bills.
- Unions have been in decline for several decades now and I see no reason to
blame jobs export on unions. Jobs will be exported as long as the world's
corporations are able to find a cheaper place to produce their goods. This
sounded ok as long as we kept most of the world's professional, engineering,
research, and marketing jobs. However those too are moving offshore as our
major technology leaders transfer technology and invest heavily for new
research and development centers in China and India. Also, the strong
manufacturing countries are developing very strong educational and research
infrastructures which are severely eroding our dominance. In my view, we
appear headed in the direction of homogenizing the world's labor rates to the
lowest wages. I feel most fortunate to be retired!
- We have already seen the effects of business dumping healthcare on the
public sector and it is not pretty. In fact, the emergency rooms of many
hospitals are so full of the resulting fall-out that those who have private
healthcare coverage do not receive optimal service. I hardly think that the
solution is for business to escape responsibility by dumping more of the
burden of healthcare on the public.
Earl
----- Original Message -----
Sent: Saturday, March 04, 2006 12:45
PM
Subject: Re: [RT] mkt outlook
I agree with everything you say below Ira.
For
the record, I am currently at 80% cash with one tech stock shorted and all
longs are
in bio tech and metals. In your other post, you make
some very convincing arguments that
we are topping out and even though I am
obviously a fundamental trader rather than a technical
trader, I recognize
the danger of being long when so many traders will be selling into
strength.
I do take issue with your jobs picture or at least part of it
as taking out those who do not seek
and will not accept any job, only makes
sense. The manufacturing sector has moved a large
percentage of their
factories over seas and will continue to do so as long as unions hold
sway
over their operations. When an employee feels he/she works for
the union rather than their
employer, quality workmanship is going to be
hard to come by. I actually considered that the
strike by Northwest
mechanics might signal an end to union power in America but that may
now
take a little longer than expected and a greater loss of manufacturing
jobs with it. American
business can simply not afford to
provide free health care and life long retirement to its workers
and be
competitive in a world market place.
When I married my wife in
1963, we saved for three years to buy a color television. We saved
for a home down payment and we drove ten year old automobiles. We
had no boats or Skidoos
or snow mobiles or other luxury items and we owed
no one except for our mortgage. Today, our
young people *expect* to
have all these things and have them immediately. As you said,
savings
is a foreign word to people and waiting for "toys" is unheard
of. Eventually, there will be a "price"
to be paid for such
attitudes and I agree that we are getting closer and closer to the due
date.
Thanks to all who have expressed their opinions recently
and let's all stay mobile and quick to
adjust to what the markets tell
us.
Bob
At 07:26 AM 3/4/2006 -0800, you wrote:
It is not
about being right or wrong, it is about making money. You can change
the trend any time you want to just by changing time frames. You can
have a down move within an up or an up move within a down move.
When someone states the top is in and doesn't give a time frame or a
reference you have to consider the fact that it is the time frame that he is
trading. Then it is your responsibility to go over you charts with
your system and see if it agrees with the information received.
I have read Ben's posts for
years and when I disagreed I would post my opinion, as that was all it
would be. It would be based upon what I saw on my charts using the
system that I use. Ten different people can look at the same set of
charts and come up with 10 different answers. It appears from your
post that you are a long term trader and are holding onto your long
positions. Someone else could have been trading the oscillations of
the Dow, Russell or any other index and made a lot of money trading both the
up and down moves in the market. Ben has called tops and bottoms for
years as have many others. All their posts do is make me aware that
there might be some value to their post or observations. Then it is my
responsibility to do my own homework. The posts also bring my
attention to items that I might not be trading, but could be a new profit
center. The NYA hit a new high and how many stocks hit new lows at the
same time. So to be blindly long or short in anything is an
error. To feel that the Market, which ever index you feel is the
market, will carry a stock, option or future position can be
disastrous. If you are trading the indexes themselves, then that is
fine, but it is not applicable to every trader.
If you have a question, ask it and I am sure that Ben or
anyone else will be more then glad to answer. If you disagree, that is
fine. Just give your reply as you did below. It doesn't have to
be sarcastic, or ridiculing. A constructive reply can help
everyone.
To disagree is
one thing to ridicule and deride is something entirely different.
Just one mans' opinion.
Ira.
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