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ALL IS WELL


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#1

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Posted 21 July 2003 - 07:05 AM

. . . It was also announced that the red ink the federal government will run up next year, is estimated to be $455 billion. It was "estimated" to be half that, a few months ago. Of course, the off budget items, and black budget stuff, is not mentioned. It would be much worse, except they have been stealing the Social Security funds for years, to help out with the deficits, and the Boomers are now applying, so there won't be a surplus much longer. The deficit does not include Iraq, Afghanistan, and homeland defense either, so will it be $600 billion in the hole? $750 billion? Since DC rarely tells the truth, no one knows. The total federal government debt, is about $44 trillion, give or take a few bucks, counting the unfunded promises for future payments. This also does not include the hideous debts and bureaucracy which will come about, when the local corner drug store, or super market's prescription department, must finagle payments from Uncle Sam. "All is Well?" . . .

#2 chibear

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Posted 21 July 2003 - 08:07 AM

Gee, Glad.

I was trying to derive something inspirational from your opening, but the more I read, the more depressed I got.

Think I'll go back to bed and pull the covers up. :rolleyes:

#3 DrStool

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Posted 21 July 2003 - 08:09 AM

Good morning and good Stool to all!

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#4 wndysrf

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Posted 21 July 2003 - 08:38 AM

Good Morning, Riverboaters.

Short squeeze of the day: BOBJ
Too many gaming the head and shoulders top, one house upgrades the stock, and a squeeze ensues. Still too many shorts out there in the market.

Asian Exotica just turned from red to green.

Next hot penny stock: DSLN

Stock showing some weakness on the open: APOL
PigMen Proprietary Trading Desk

The Weimar Run: Bullphoria!!!!

#5 DrStool

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Posted 21 July 2003 - 08:43 AM

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#6 machinehead

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Posted 21 July 2003 - 08:52 AM

A Fibonacci 34 years ago, today:

First moon walk
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

"No gold was harmed in the making of this movie." - Bizarro Greenspan

[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals."
- our jickiss

#7

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Posted 21 July 2003 - 09:00 AM

Treasury yields are off and running again. Where's the money going? :unsure:

#8 mksloth

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Posted 21 July 2003 - 09:03 AM

over the weekend, there was some discussion about what to do with 401k's that have limited investment vehicle diversity. Aren't I-Bonds also going to be painful (perhaps not as painful as the regular long term govt bonds) in the current environment of "low" inflation and bond bubble being unwound?

#9 Yoshaviah

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Posted 21 July 2003 - 09:07 AM

JOHANNESBURG, July 21 (Reuters) - South African gold producer Durban Roodeport Deep (DURJ.J) said on Monday it would consider closing its North West mining operations, citing the impact of a stronger rand, and warned there could be job losses. . . - Story.

#10 Yoshaviah

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Posted 21 July 2003 - 09:11 AM

Last-ditch attempt to avert mining strike
July 21, 2003

By Mokgadi Pela

Johannesburg - The decision by the National Union of Mineworkers (NUM) to strike had galvanised mining houses into holding last-minute talks with the union at the weekend in an effort to avert industrial action, Frans Barker, the Chamber of Mines' spokesperson for gold, said yesterday.

The strike by more than 160 000 workers will begin on July 27. The decision follows the failure of mediation to bridge the differences between the NUM and the chamber over wages and other conditions of service.

"I can foresee further meetings in the week to try to find an amicable solution acceptable to both parties," Barker said.

"We don't want to damage the viability of the mines via the strike and quite clearly, we want total agreement so we can put the issue behind us."

Companies to be affected are Gold Fields, Harmony, Ingwe, Eyesizwe, Anglo Coal and Kuyasa. . . - Story.

#11 Yoshaviah

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Posted 21 July 2003 - 09:17 AM

Mining problems in SA have probably been caused by JP and da boyz through rand price manipulation. If there is a strike and the gold price rises above 400 then da boyz will have an excuse for the "temporary" rise in the POG come Sept/Oct. If this plays out then after the miners settle the POG will correct to sub 400, maybe back to 360 or so. It should bottom in Dec/Jan and then it might make a huge move to $500 in early 04. Look for action in the SA miners if these things work out.

#12 Tchaikofsky

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Posted 21 July 2003 - 09:22 AM

Mohel Lynch covers their anals:

9:19 AM Merrill says 'low quality' investments overpriced by Rex Nutting
WASHINGTON (CBS.MW) -- Low-quality stocks and bonds are overvalued today while high-quality assets are undervalued, Merrill Lynch chief strategist Richard Bernstein said Monday in a note to clients. "Our indicators continue to suggest that second-half 2003 profits might be considerably weaker than is currently generally expected," Bernstein wrote. Valuations of low-quality assets suggest "investors are not anticipating an economic recovery, but rather are anticipating an all-out economic boom." Price-to-earnings ratios of 'A' rated stocks are around 15, while P/E ratios of 'C' and 'D' rated assets are over 40.

#13 Guest_Icky Twerp_*

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Posted 21 July 2003 - 09:22 AM

Current I-Bond interest 4.66%.
I don't see that going down in the near future.
I think the rules for cashing in have been changed the last year, making them more liquid, too.
I have inquired herein, and the consensus from Stoolie respondents was that at some point the US WILL DEFAULT on its Treasury Debt.
Talk about picking nickles up in front of Steam Rollers...
I'm willing to play that game of chicken with some portion of my $, tho'. I just wish I could get more of my wife's IRA into I-Bonds. 7 - 11 months?... I don't know about that. Soon?...sometime after that? I gloomily accede.

#14 Yoshaviah

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Posted 21 July 2003 - 09:28 AM

If I had a 401K with such limited options I would cash it out, pay the tax, and pay off debt or buy gold and silver bullion.

#15 DrStool

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Posted 21 July 2003 - 09:31 AM

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