In a message dated 8/20/2001 3:17:26 PM Central Daylight Time,
edick(a)idcomm.com writes:
The Pres. does have quite a bit of influence on the
market, and the market is
the reason the economy is in the toilet at the moment. This particular
president seems to be tailoring his actions to the fact he's going to take
after
his old-man and serve only a single term. In the meantime, he's routing as
much
cash to Texas as he can. I'm surprised the media haven't picked up on this.
Nobody should have been surprised that the high-tech market tanked once
saturation of the hardware market was reached, and once the market geniuses
who
pumped up the "DOT-COM" stocks finally figured out they'd been fooling
themselves. The Clinton administration was able to forestall the
correction yet
to come, however, and the market, in several sectors, is WAY overvalued. I
don't have much in stocks any more, having moved to greener pastures. I'd
not
be surprised to see a more general correction on the order of 75% downward
in
many market sectors, and unemployment figures into 20%+ for a decade or so.
If
you're into trading, I'd say look for issues that you can sell short.
You're right in that the Pres can't FIX the economy overnight, but he can
surely
wreck it in a day or so.
Dick
perhaps we should start heating up some molten iron for him?