As World Com takes a dive...

[p_p_man]

hiding $2.5 billion worth of debts and shedding 17,000 staff, the stock markets in Europe have taken a drop at the news.

The wonderful Anderson audited the books.

So what's going on over there? If many more giant corporations you have are built on sand your economy is going to get worse, not better, and the repercussions are going to be felt around the world.

It's quite scary really. The most powerful single nation in the world has Bush as President and a commercial structure which, it appears, wouldn't seem out of place in the third world.

ppman

 

[SINthysist]

The final parting shot there was specious partner...

But have you been listening to me and my thoughts on the economy and what was happening for tha last two years or are you so self-absorbed that everyone's elses words are meaningless before yours.

We are closer to Depression (despite Bill Clinton's assessment that the era of the business cycle was over) than we are to recovery. As I told WD so long ago, we needed to hit 7,000 again to get closer to the real valuation of America and not speculation on the potential of America and yes, I pulled every dime I could out of the market at 10,600. Remember all the bozo's the week after September 11 screaming how REAL patriots would run out and buy stock to prop up the market? FUCKTARDS!

Again, once the liberal ideas of moral relativism and phrases like "no controlling authority" become the norm, then you must expect lapses in the business community, the teaching community, and the conservation movement as well as many of our other institutions.

I feel like Longshanks.

It is time to reinstitute an old custom...

PERSONAL INTEGRITY...

 

[SINthysist]

On second thought,

You better get over and help REDWAVE. He's taking a real beating on the subject and since you both have similar viewpoints, he could probably use the help...

 

[riff]

I think p_p man has a point.

 

[Susano]

Y'know, I think the message that the stock market has never lost over a 20 year period has gone out to such a percentage of the population that it can't take a serious, long-term dive until the baby boomers pull everything out for that last quintuple bypass surgery, or trip to Tahiti.
Maybe not even then. We may just have to content ourselves with being permanently overvalued.
Y'think Europe will go down with the ship when America hits a depression?

 

[SINthysist]

Elaborate.

As it is, you could mean he needs to comb his hair to hide it...

 

[SINthysist]

Yes.

But remember, Bill Clinton said the days of the business cycle are over...

 

[Susano]

Time to make a basement investment in gold bullion, non-perishable food, and ammunition?

 

[riff]

Yes.

But remember, Bill Clinton said the days of the business cycle are over...

Really... we are in a War Economy now.

 

[SINthysist]

I went into land and other assets. As for the rest, we live in rural America, so being prepared and armed to the teeth is a way of life. But you do remind me, I need to service my generator to ensure service...

 

[SINthysist]

I don't think so. We really are not devoting that much to the war effort when you look at, say, the bloated farm bill, or bailing Amtrack, or prescription drugs, will somebody please stop me...

 

[Susano]

I went into land and other assets. As for the rest, we live in rural America, so being prepared and armed to the teeth is a way of life. But you do remind me, I need to service my generator to ensure service...

Ah, yes. Too bad everyone wants to move litorally now, to the vast, sprawling meta-cities. Can never be sure when those small towns are going to dry up. If you can support yourself out there, though, all the better. Have fun with your preventative maintenance.

 

[Shaq]

Time to make a basement investment in gold bullion, non-perishable food, and ammunition?

that is not as far fetched an idea as some may think....though I'm broke and have been so for some time....I will be keeping an eye on today's market...todays news does not bode well...

 

[brokenbrainwave]

this is not a wartime economy, this is an economy teetering on, as sin said, all out depression. Facts are clear and prevelant. Look at coorperate proffits, save for a few industries, they have been stagnent for quite a while now. IR's are artificially low, and although I love the 6% I got on my house, I also understand banks needing to tighten credit criteria, they cannot not afford a risk on the many credit criminals today. That is another clue, personal bankruptcy is at an all time high.

Do a little research on how the great Summerian, Egyptian and British civilization fell from the top of the heap. They in every case became lazy, self absorbed, and more a service based economy rather than a production based one...sound familiar?

 

[riff]

All I know is that defense contractors are making major bucks.

 

[p_p_man]

The demise of Enron and now World Com...

coming amidst constant talk of the strong Stock Market, and the recovery after 11 September makes me think that everyone is talking up a strong economy.

This latest blow hit the opening European Stock Markets today with large drops in share values. But the news is too early to say whether it's going to have a longer term affect.

The communication giants over here have had their own troubles recently but luckily there hasn't been a hint of false accounting...yet.

I suppose any organisation that had Anderson as their auditors will now be the focus of attention.

ppman

 

[brokenbrainwave]

All I know is that defense contractors are making major bucks.

yes but they always have made major bucks. a true wartime economy, something not seen here since WWII, is where every fiber of industrial creation puts millitary needs first, societies needs second.

 

[brokenbrainwave]

Re: The demise of Enron and now World Com...

coming amidst constant talk of the strong Stock Market, and the recovery after 11 September makes me think that everyone is talking up a strong economy.


ppman

so the worlds leaders are to say the strongest economy in the history if the world is junk? why yes, lets create mass hysteria world wide. the market is still strong, too strong as a matter of fact, 7500-8500 would be alright, save for the poor sob's that invested at nearly 11000. its not the market I am worried about.

your argument is rather weak here if based upon being against hype.

 

[SINthysist]

Susano, it costs very little to live where we live and people work together.

One example. I get free eggs. The big double-yolked kind. They have to throw them away because city-folk will not buy them. The same with brown eggs.

 

[brokenbrainwave]

Susano, it costs very little to live where we live and people work together.

One example. I get free eggs. The big double-yolked kind. They have to throw them away because city-folk will not buy them. The same with brown eggs.

ohh I love the double yolk ones, to hell with my cholesterol!!! your right, soft city folks will not touch them..they gonna be the first to go

 

[dickE]

Bill Clinton's primary contribution to a now only seemingly go-go economy was the simple fact that, during his terms, the media was just simply too busy covering his daily scandals and personal peccadillos that they didn't have time to scrutinize the goings-on in the market. I mean, after all, here was a guy and an administration that taught us all that even a scandal was a useful tool when used to avert attention from an even bigger scandal. He put the media into factual overload trying to check out one scandal while the next one was developing....and a third one was being leaked.

So now? Now, besides the Bush's twin daughters minor mischief, the press has plenty of time to delve deep into things economic....which they are doing. And what can counter for today the sizzling sex stories of the past? Why, they trot out tired, dull, old, sexyless, bean-counting Alan Greenspan to try'n prop up the market. The lack of scandalous activities in the Bush administration so far have weakened the economy perhaps more than any other thing.

What this economy needs is a good, solid scandal......one with "legs"!

 

[riff]

Susano, it costs very little to live where we live and people work together.

One example. I get free eggs. The big double-yolked kind. They have to throw them away because city-folk will not buy them. The same with brown eggs.

Send me some double yolks. I'll make a kick ass omlette.

Ever eat guiney eggs? Quail eggs?

Pickled quail eggs are a treat.

 

[SINthysist]

God, but it takes forever to crack the tiny little things one at a time. I prefer to take the little shotgun out in the fall and get the mature version...

 

[SINthysist]

You want scandal. Very quietly, Ashcroft as re-opened the investigation into Marc Rich's allegations about payoff's made to Billary...

 

[brokenbrainwave]

anyone that even tries to deny the Clintons were not the dirtiest regime this country has ever seen must love that sandy feeling in their ears. I had noticed Ashcroft had done that, good luck on even getting this fuckhead to crack the code of silence. I am sure Adolph Ashcroft will trample civil liberties on the way to spending untold billions to merely find Clinton slipped off the hook again.