Thursday, 11/7, Market WrapUp (J.P. Morgan denys rumors that it suffered losses on gold)

Financial Sense Online ^ | 11/7/2002 | James J. Puplava

[dalereed]

Just like bulls in the slaughterhouse waiting to become hamburger!

[arete]

What this country really needs is a little more debt to keep the illusion going a little longer. I just have to wonder how far people will dig themselves into that hole.

Consumer Credit Expanded by Larger-Than-Expected Amount in September

Richard W.

[dalereed]

"I just have to wonder how far people will dig themselves into that hole."

A large portion of the population is in so deep now that as the economy continues to deterioriate the massive bankruptcys will take the entire banking industry down with them along with the mortgage lenders.

Can anyone spell depression? Whats coming looks to me to be much worse than the 30s.

[DuncanWaring]

Bubonic and pneumonic plague (same disease, different means of catching it) are not particularly uncommon in the Southwest US.

I wouldn't attach any extraordinary significance to this incident.

[BlackJack]

Nice pic

[Dialup Llama]

Wheat is in a strong bull market.

[grania]

Bubonic and pneumonic plague (same disease, different means of catching it) are not particularly uncommon in the Southwest US.

I wouldn't attach any extraordinary significance to this incident.

I was surprised when I read a warning about bubonic plague in south central Colorado a few years ago.

The significance might be that where there has already been some bubonic plague, the public is now being told there are some cases in New York. It's hard to imagine that the two we hear about are the only two there are, either through under-reporting (I would suspect that a lot of potential victims don't see doctors often) and the don't-scare-JohnQPublic attitude.

[razorback-bert]

are not particularly uncommon in the Southwest US.

I live in the Southwest and plague is uncommon, Hantavirus is the big worry.

plague

I don't attach any extraordinary significance to this, but my personal radar is set to long range for bio-threats.

Remember the FBI hasn't caught the dis-grunted evil white scientist, who terrorized the media and Congress.

During the "Black Plague", trade slowed to nothing.

[Semaphore Heathcliffe]

Borrow your way to financial independence!

[arete]

The absolute ridiculous Fed stance that we are seeing slow economic growth and also the need to cut rates by a 1/2 point to correct imbalances while using repo money to flood the market new money is beyond what even the dumbest American should be expected to believe. Greenspan is willing to screw the small savers and people dependent on fixed income investments to support the Wall Street banks -- his true agenda is now clear for everyone to see. He works for Wall Street and is nothing more than a political punk, IMO.

Richard W.

[Semaphore Heathcliffe]

I was amazed that anyone could find some positive spin regarding the rate cut. Like the last dozen or so did any good at all? Yours truly is a rank amateur economist, mostly prefering to watch from the sidelines and take notes while the real players slug it out. But this rate action reminds even me of Mandy Patinkin's character is Pricess Bride, to the Sicilian guy who kept saying "Inconceivable!" when something didn't go as he'd plannned: "You keep sayin dat-a word. I donna thin it means what you thin it means."

With regard to the savers and people dependent on fixed incomes...they're being thrown to the wolves. I'm a saver by nature, and my interest bearing accounts are a joke now. But I'm young and still earning an income; Greenspan's a jackass but he's not killing me. But the older folks who are depending on that income for survival are different matter all together. We're inching closer to a bona fide national disaster.