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35821 bull market reasoning (corrected) -- rank: 1000

Enrique Diaz-Alvarez wrote: >By the way, I'd revise your "buy" recommendation of HP. It used to be an >honest, innovative company; an engineer's delight. Now they got that new CEO, >whose main claim to fame is faking Lucent earnings reports by raiding the >pension fund (she was smart enough to leave before the shit hit the fan); the >focus in HP seems to be shifting from technological innovation to earnings >fakery and spin while insiders dump shares. Oh but the biz m ...

Document Size:	5140
Author:	Doug Henwood
Date:	Wed Feb 23 09:17:45 PST 2000

35822 oil -- rank: 1000

[I'm no fan of addiction metaphors, but...] Washington Post - February 23, 2000 REFUELING OPEC By Charles Komanoff and Michael J. Smith For the first time in almost 10 years, crude oil prices have risen above $30 a barrel. Heating oil, a vital fuel in the Northeast, is at $2 a gallon, double the price of a year ago, and gasoline could top $1.75 by summer. What's going on? The simple answer is that for the past six months, the member nations of OPEC have constricted supply by several million barr ...

Document Size:	8408
Author:	Doug Henwood
Date:	Wed Feb 23 09:15:31 PST 2000

35823 bull market reasoning II -- rank: 1000

[It scares me a bit to be quoting Grant again, but this is pretty compelling.] Grant's Interest Rate Observer - February 18, 2000 JUST TO BE CONSERVATIVE Built into the valuation assumptions of a new work of analysis by Wit Capital is the forecast that each and every closely held investment in the Internet Capital Group (ICGE) stable will appreciate by approximately 200% a year in each of the next three years. ICGE, the business-to-business e-commerce company incubator, has a $31 billion market ...

Document Size:	6358
Author:	Doug Henwood
Date:	Wed Feb 23 08:00:04 PST 2000

35824 conventional wisdom -- rank: 1000

Tom Lehman wrote: >Conventional wisdom has it that politicians will do anything to pump up >the economy in a presidential election year. This line of reasoning >says, that there will not be any big problem with stocks this year. The >politicians won't let it happen. But an unelected guy who just got reappointed for a long, and possibly his last, term has a lot more to say about it than "politicians." I believe this fellow is talking to the House Banking Committee later to ...

Document Size:	4913
Author:	Doug Henwood
Date:	Wed Feb 23 07:38:38 PST 2000

35825 bull market reasoning (corrected) -- rank: 1000

Rakesh Bhandari wrote: >Perhaps the US govt is being so cautious about breaking up Microsoft Cautious? With Judge Jackson comparing them yesterday to the Rockefeller Standard Oil monopoly? With the Justice Department and several states having brought the suit in the first place? I don't know that I'd call that cautious. Your claim of U.S. industrial superiority - and I'd agree it's pretty superior in the computer field, broadly defined - depends on the power to innovate rapidly and keep compe ...

Document Size:	5119
Author:	Doug Henwood
Date:	Wed Feb 23 07:29:33 PST 2000

35826 The Most Recent Purge From Marxism-List by Louis Proyect -- rank: 1000

Tony Abdo wrote: >Once again there has been a purge by Louis Proyect. You can bombard 40 other lists with your evaluation of LNP3's list housekeeping, but not this one, please. Doug

Document Size:	4816
Author:	Doug Henwood
Date:	Tue Feb 22 22:35:57 PST 2000

35827 Russia: pop down, investment up -- rank: 1000

[from Johnson's Russia List] Drink, disease and depression eat away at Russian population MOSCOW, Feb 22 (AFP) - Emigration, suicide, vodka abuse, abortion, tuberculosis, economic crisis, war ... it is no wonder the population of Russia fell by a post-Soviet record of almost 800,000 people last year, experts say. There are now almost three million fewer Russians than there were when the Soviet Union collapsed, and analysts are wondering where the depopulation of the world's largest country will ...

Document Size:	9479
Author:	Doug Henwood
Date:	Tue Feb 22 22:12:59 PST 2000

35828 bull market reasoning (corrected) -- rank: 1000

Michael Perelman wrote: >I doubt that star wars will pay the same sort of dividends. Somewhere between perhaps and probably, but I was countering the belief that military R&D has no civilian spinoff. Doug

Document Size:	4662
Author:	Doug Henwood
Date:	Tue Feb 22 16:24:39 PST 2000

35829 Chomsky responds to Angela -- rank: 1000

I forwarded Angela's comments on Noam Chomsky on East Timor to the man himself, who responds: >Your correspondent is confused. The question of Australian, etc., >intervention in East Timor never arose, simply as a matter of logic. >Outsiders could no more "intervene" in Indonesian-occupied ET than they >could in Nazi-occupied France. The sole claim that Indonesia had was that >the US had authorized its aggression and slaughters, and actively >participated in them, ...

Document Size:	7652
Author:	Doug Henwood
Date:	Tue Feb 22 16:23:51 PST 2000

35830 bull market reasoning (corrected) -- rank: 1000

Dennis R Redmond wrote: >Japan's >science spending is now something like 2.9% of GDP, the highest in the >world; the US spends maybe 2.5%, but at least a fifth of this is >military-related. Well, yeah, but out of "military" research came the relational database, the mouse, the light pen, the graphic interface, and the Internet. Doug

Document Size:	4871
Author:	Doug Henwood
Date:	Tue Feb 22 15:47:58 PST 2000

35831 US debt risks -- rank: 1000

Rakesh Bhandari wrote: >Melloan also thinks there has been 'no inflationary surplus of American >dollars around the world because vendors willing accept them and put them >to good use.' How? Buying Amazon and Microsoft shares? Doug

Document Size:	4584
Author:	Doug Henwood
Date:	Tue Feb 22 10:31:50 PST 2000

35832 death & the American dream -- rank: 1000

Financial Times - February 22, 2000 Special report: Death on the road to the American Dream By Christopher Parkes and Henry Tricks The US economic miracle is founded on technology, ingenuity and, to an unknown extent, the labour of 6m illegal immigrants doing the jobs nobody else wants. They are poorly paid and mostly anonymous. But a tragic road accident which killed 13 Mexican migrants highlighted their plight. The Financial Times tracked down families of five of the dead and one survivor to a ...

Document Size:	18298
Author:	Doug Henwood
Date:	Tue Feb 22 09:11:22 PST 2000

35833 Fwd: Re: bull market reasoning -- rank: 1000

[Sent to listowner rather than list. While branding may allow individual firms to capture above-average profits, I can't see how an economy as a whole can benefit, which is the point I think Daniel is making in #3 below. How does the existence of brands increase wealth for society as a whole? The Zantac vs. Nike contrast seems pretty sharp to me.] X-From_: DANIEL.DAVIES at flemings.com Tue Feb 22 11:20:23 2000 From: DANIEL.DAVIES at flemings.com X-Lotus-FromDomain: FLEMINGS PRODUCTION To: owner ...

Document Size:	10178
Author:	Doug Henwood
Date:	Tue Feb 22 09:21:16 PST 2000

35834 US debt risks -- rank: 1000

[Much more attention was paid to this sort of thing in the 1980s; now, everyone's happy!] Financial Times - February 22, 2000 US risky debt threat to banks By Daniel Bögler and Gary Silverman in New York US companies and consumers have built up record levels of risky debt that could threaten banks' financial health if the economy slows, warns McKinsey, the management consultancy. Wolfgang Hammes, a senior manager in McKinsey's banking practice, said: "There is a substantial amount of hidden ...

Document Size:	7464
Author:	Doug Henwood
Date:	Tue Feb 22 09:14:34 PST 2000

35835 Voucher Socialism- Rightwing view on school vouchers -- rank: 1000

Michael Pugliese wrote: >I remember a few months ago, In These times ran a "viewpoint" point >advocating vouchers from >a reader familiar with the Milwaukee vouchers program. That might have been John Gardner, who's the brother of two old friends of mine. John prides himself on being quirky, neither left nor right, and all that. I think vouchers are a cheesy substitute for adequate funding. Doug

Document Size:	5097
Author:	Doug Henwood
Date:	Mon Feb 21 22:53:58 PST 2000