Zeev's Turnips Patch-No Politics (ZEEV)

[hightecheast]

Zeev .. some thoughts to a friend this morning ... and no, I am not depressed or pessimistic ... what do you think? ...

Ken Wilson
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<<Hi Dave. I hope Roach and ContraryInvestor.com will be very wrong. Unfortunately, I believe they are exactly on target. The only thing I disagree with Roach on is the unusually large effort to inflate the economy. I do not believe that will work. In fact, I believe that Roach is more bearish than he dares say.

<<Reality is reality.

<<Your call on Greenspan many years ago was very sharp. And since then, with his printing press, and artificially low interest rates, he is probably going to cause the worst economic period in the U.S. (and probably the world) since the 1930s.

<<Refusing to 'take the cure' will only make things worse. All that is being done to combat our economic problems will only delay them (as has already happened) and make them more <<serious.

<<I do not see how we can get out of this without a serious banking crisis, much higher unemployment and much lower stock and bond prices. Hedge fund and derivative problems are also on the agenda.

<<The Greenspan printing press, much too low interest rates and U.S. deficit spending are going to cause larger and larger amounts of capital to exit our financial markets which is going to kill the dollar and keep gold moving up.

<<I don't like it, but I do not see any way around it.

<<Many lessons about thriftiness and staying out of debt are going to be taught to Americans again.

<<This is going to cause problems for us also. Jan getting a job for a couple of years is important to us, but even Penn State is not hiring much. We are much better off than most, so I am not complaining. Not at all. As I said, I do not like it, but we will make the best of it.

<<I have been blessed to learn what I have about trading futures and options. I need to learn more, and I am working at it.