ALL ABOARD FOR THE TITANIC

By Aida Parker

A good read relating to our "global village", what's actually going on and how we're interdependent. I sat on this for a while, not wanting to post anything unsubstantiated, but after research, I haven't found ANY contrary evidence that the article's facts are incorrect. WARNING: Not for the faint of heart!

-- Gary (njarc@ica.net), February 12, 1999

Answers

Besides your statement regarding the problemless Euro conversion, which was not your fault because of cover-up by the European Banks, in my opinion you have hit the nail right on the head. It was not that long ago when the NYSE was at an all-time high of 4500. What is it now? The increase of stock values bare no relationship with the actual growth of companies, the increase of production or sales nor the GNP of the US economy. The market is driven by a frenzy of speculation as if there is no limit. You are right. It will collaps. Just like the Real Estate market in Toronto back in 87 to 90. I did predict the collaps of the Real Estate market in 88 and guess what? I was laught at and looked at like I need a padded cell. There was no tomorrow. Than the bottom fell out. I have known of people which had bought 3, 5 or 10 houses to speculate and reap in maximum profits. Most of them lost everything they owned. Some with more financial backing sold whatever they had on houses with great losses To me the Stock market is like the Asian Economy, a soap bubble ready to burst any moment. I have in-Laws in SE Asia. Before there was no tomorrow, now they have taken a wage cut to be able to keep their jobs. This is not just the Indusry, Government employees as well. Y2K is going to be just the icing on the cake. Bill Thommes

-- William I. Thommes (liberty@ican.net), February 20, 1999.