Friday, 7/19, Market WrapUp (Capitulation, or precious metals, water, oil & gas, and defense?)

Financial Sense Online ^ | 7/19/2002 | James J. Puplava

[razorback-bert]

Q. What is Dr Alan Greenspan's Favorite PC Game?

A. Roller Coaster Tycoon

[razorback-bert]

What's the difference between buying a lottery ticket and buying a nasdaq stock?

In the first case, you help finance the local community swimming pool

In the second case, you help finance the stock broker's home pool.

[Washington-Husky]

They call an investment professional a "broker" - 'cause that's what you're gonna' be when he's through investing your money for you.

[razorback-bert]

"I hear that you drop some money in Wall Street. Were you a bull or a bear?"

"Neither, just a plain simple ass."

[Dukie]

RE Crashmaker

Check around for a two hour video series entitled "The Money Masters" which I've seen on the local Christian station. It's a fscinating look at the history of central banking in Europe and America. When asked of his proudest accomplihment as president, Andrew Jackson without hesitation replied that it was his elimination of the Bank of the U.S.

[razorback-bert]

Q: What's the definition of a stockbroker?

A: Someone who invests your money till' it's all gone.

[Washington-Husky]

I like that one. I'm definitely gonna' file that in my "saved stuff" folder! ;)

[Dukie]

A city boy, Kenny, moved to the country and bought a donkey from an old farmer for $100. The farmer agreed to deliver the donkey the next day.

The next day the farmer drove up and said,

"Sorry son, but I have some bad news, the donkey died."

Kenny replied, "Well then, just give me my money back."

The farmer said, "Can't do that. I went and spent it already."

Kenny said, "OK then, at least give me the donkey."

The farmer asked, "What ya gonna do with him?"

Kenny, "I'm going to raffle him off."

Farmer, " You can't raffle off a dead donkey!"

Kenny, "Sure I can. Watch me. I just won't tell anybody he is dead."

A month later the farmer met up with Kenny and asked,

"What happened with that dead donkey?"

Kenny, "I raffled him off. I sold 500 tickets at two dollars a piece and made a profit of $898."

Farmer, "Didn't anyone complain?"

Kenny, "Just the guy who won. So I gave him his two dollars back."

Kenny grew up and eventually became the chairman of Enron.

[arete]

Now that is funny!

Richard W.

[Washington-Husky]

Good story, and funny too.... however, it makes you wonder just how many other Kenny's there are out there in Corruptorate America.

[Dukie]

I believe more than a few, I'm sad to say. Several of Kenny's cohorts at Enron, the complicit at Andersen, Kozlowski late of Tyco, etc.

I see the Portland Oregon baseball team had an "Arthur Andersen" night promo. Free admission to anyone named Arthur or Andersen ( any spelling acceptable ) and to anyone named Arthur Andersen a party for 20 in a luxury box and shreding of scorecards at the end of the game.

[Freee-dame]

The media is talking about the markets’ breakdown every day. Democrats are trying to blame it on the Bush Administration;

The politics of economic destruction is an expression I heard used yesterday by a Republican. I wonder why the media didn't pick up on it? <\sarcasm>

It's very discouraging to think that we have a Senate that would prefer that our whole economy went into the tank than that the Bush Administration would have any victories.

[STONEWALLS]

....."If hostilities break out with Iraq, say, or if there is another major terror attack on American soil, all bets are off."

..........exactly.....I live in the Baltimore-Washington area and have two retired buddies who went back to work last fall because of 9-11.....one to the FBI, the other to the CIA.....both were long term blue-chip stock investors.....they started moving into cash/high grade bonds after they had been back to work a month or so......they can not or do not talk about their job, but as one of them told me "the market is jittery enough as it is.....all it's going to take is another attack and it's 'Katy bar the door'.....

Good Luck to everyone..Stonewalls

[Dukie]

According to John Milton's "Paradise Lost", Lucifer said:"Better to rule in Hell than to serve in Heaven"

Haven't seen you before ... welcome.

[FlyVet]

(I laughed when I heard Dan Rather on the SeeBS evening news tonight make a quip about today's market action: "The closing bell didn't ring today, it tolled...")

Yeah I heard that too. Interesting, the night before on their "Market Watch" segment the analyst said something like "....What one market analyst refers to as The Perfect Storm...", although he didn't mention Paplava's name. Hmmmmmm.

[STONEWALLS]

.......a farmer had a heifer and sold it to his neighbor for $100....six months later he bought it back for $200....six months after that he sold it back to the neighbor for $400....six months after that the neighbor sold her to a guy in another county for $800.....when the farmer found out he said to his neighbor..."now why did you go and do a dumb thing like that?...we were both making good money off that heifer!"

.....and that's what's been going on with Wall Street....everybody's been selling the same heifer back and forth to each other.....and the Wall Street mouth pieces have been urging us to stay in; to keep the old game going......

Good Luck to everybody....Stonewalls

[FreeReign]

Bubbles bursting..........Housing is next.

Where will everbody live?

[Wyatt's Torch]

What do you think of Barton Biggs comment predicting $500 - $1000 gold in the next 12 months?

Not much unless something goes drastically wrong (i.e. Nuclear War, President assassinated, rise of Anti Christ...)

[BlackJack]

rohry has the link right......browse the site....good analysis.

[disclaimer]

Where will everbody live?

Hooverville