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38326 Dow 1,000,000 -- rank: 1000

Greg Nowell pointed out that the timetable for Dow 1,000,000 I posted the other day was mislabeled. Here's a corrected version. It assumes that the average price return since 1994 will extend indefinitely. Dividends excluded, since as the enlightened one informed us, they're risible. They would, however, add 2 percentage points to the return average, and bring Dow 1,000,000 two years closer - to 2019 rather than 2021. Maybe Chelsea could run for president in 2020 on a Dow 1,000,000 platform, car ...

Document Size:	5218
Author:	Doug Henwood
Date:	Sat Mar 13 09:25:16 PST 1999

38327 Fwd: Jerry Brown Revisited -- rank: 1000

[From the Free Pacifica list.] >Date: Fri, 12 Mar 1999 22:12:36 -0700 >From: Jeffrey Blankfort <jab at tucradio.org> >MIME-Version: 1.0 >To: freepacifica at penguin.josephson.com >Subject: Jerry Brown Revisited >Sender: owner-freepacifica at penguin.josephson.com >Precedence: bulk >Reply-To: freepacifica at penguin.josephson.com > >If there were any illusions that Jerry Brown was in the >running for the fastest sellout of the 90s, his avid >welcome of th ...

Document Size:	10123
Author:	Doug Henwood
Date:	Sat Mar 13 08:56:44 PST 1999

38328 Capitalism defends itself -- rank: 1000

Margaret wrote: ><http://www.abcnews.go.com/onair/abcnewsspecials/transcripts/stossel990311_tran >s.html> > >I wonder why. :-7 Could it be that even the greedy >have begun to get nervous about their safety? :-) Stossel once described his journalistic mission as explaining the beauties of the "free market" to the public. He really believes this shit, and the Disney network is happy to give him the airtime to spread the gospel. The cheering things is that they pr ...

Document Size:	5106
Author:	Doug Henwood
Date:	Sat Mar 13 08:16:38 PST 1999

38329 Just In: Red Oskar's Out -- rank: 1000

Dennis R Redmond wrote: >I have to admit, though, that even though I myself >am registered Green, Oxymoron? >the German Greens are starting to worry me. They >*ought* to be taking advantage of this moment to press their own >eco-socialist economic vision. But I can find neither hide nor hair of >even the slightest vision of an alternative to the rule of what we might >call the ECBlatura. I interviewed a German Green MEP for my radio show, one recommended by Hinrich Kuhls. He ...

Document Size:	5089
Author:	Doug Henwood
Date:	Fri Mar 12 13:56:21 PST 1999

38330 OPEC punctures the Greenspan Bubble? -- rank: 1000

Henry C.K. Liu wrote: > Biloxi, Mississippi, March 12 (Bloomberg) -- The >growth of the U.S. money supply is a ``source of concern'' because it >outpaces the rate of inflation, said St. Louis Federal Reserve Bank >President William Poole. Monetarist nuts, the St Louis Fed. Doug

Document Size:	4832
Author:	Doug Henwood
Date:	Fri Mar 12 13:35:37 PST 1999

38331 CIA/OSS/FBI Socialists -- rank: 1000

James Farmelant wrote: >Herbert Marcuse remained with the CIA right up to the time of >the Korean War. I haven't heard that the CIA funded the revival >of the Frankfurt Institute after WW II but it wouldn't surprise me if >they did, since the CIA in its early days was financing lots of liberal >and social democratic groups, apparently on the premise that >social democracy was to be supported as a viable alternative to the >Communists. It's easy to see how cultivating a highb ...

Document Size:	5147
Author:	Doug Henwood
Date:	Fri Mar 12 13:10:29 PST 1999

38332 stock reserves -- rank: 1000

Paul Henry Rosenberg wrote: >This should be fairly straight-forward to quantify. The number of >stocks moving up vs. down, the number of stocks moving up more than the >market average. The average size of stocks in both those categories, >that kind of thing. There aren't enough instances to do it rigorously. I'm talking about significant stock market tops, like the late 1920s and late 1960s/early 1970s, the kind with political and social consequences/associations. Speaking of stati ...

Document Size:	5053
Author:	Doug Henwood
Date:	Fri Mar 12 12:38:41 PST 1999

38333 politics of Mitch -- rank: 1000

Los Angeles Times - Thursday, March 11, 1999 Damage Wasn't an Act of God but Act of Man Hurricane Mitch: The Senate needs to end its bickering and authorize the $956-million aid package for the region. By JACOB GOLDSTEIN, DANIEL FABER [T] his week, as we watched President Clinton's Central American tour, we were reminded of the legacy of Hurricane Mitch. The torrent, which dumped 39 inches of rain andbrought winds of up to 155 mph when it hit Central America last October, completely destroyed th ...

Document Size:	9642
Author:	Doug Henwood
Date:	Fri Mar 12 10:51:01 PST 1999

38334 stock reserves -- rank: 1000

Jordan Hayes wrote: >I think you still have to look at supply and demand in this market. >Why should it go down if the US Government, through it's best carrot: >tax policy, is actively encouraging as many people as is possible >(apparently now the Swiss as well :) to buy stocks? Chilean stocks have had an awful time over the last year or two despite all that privatized pension money going in. >The real question is where does it end, and how bloody will it be? Well yeah. I don't se ...

Document Size:	5508
Author:	Doug Henwood
Date:	Fri Mar 12 09:34:39 PST 1999

38335 stock reserves -- rank: 1000

Steve Perry wrote: >Could you explain what you mean by "market top"? Thanks. The high point of a bull market, just before things fall apart. They can take a long time to build, though usually not 14 years. The ideal type would be: market makes a high, falls back, recovers (with fewer stocks participating in the recovery, though there can be intense speculation focused on a few issues), falls back again, recovers again (with even fewer stocks participating), etc. Professors of financ ...

Document Size:	5335
Author:	Doug Henwood
Date:	Fri Mar 12 09:12:32 PST 1999

38336 stock reserves -- rank: 1000

I always get a little nervous about quoting Grant's Interest Rate Observer, which has been bearish on stocks and bonds since its 1984 debut - with a few exceptions, like recommending Asian and Russian stocks in early 1997. Still, the report in the latest issue that the Swiss central bank is thinking about putting some of its foreign exchange reserves into world stock markets is pretty eye-catching. If they do this, the Swiss National Bank would be following the precedent of the Hong Kong Monetar ...

Document Size:	5046
Author:	Doug Henwood
Date:	Fri Mar 12 08:16:53 PST 1999

38337 Just In: Red Oskar's Out -- rank: 1000

So will the German left (I don't feel quite so justified saying "such as it is" in this case as I would with the U.S. left) now fall dutifully in line behind Schröder in the interests of pragmatism and "access," on the Clinton model? Were the markets right to buy the euro on this news? Doug

Document Size:	4709
Author:	Doug Henwood
Date:	Fri Mar 12 08:02:25 PST 1999

38338 Just In: Red Oskar's Out -- rank: 1000

[From today's Lex column in the Financial Times. I love the way reviving 19th century economic policy is considered forward looking, rather than an even more aggressive turning-back of the clock.] OSKAR BRAVO! A spectre has been haunting European markets: the spectre of Oskar Lafontaine. His resignation is a seismic event in the birth of the single European currency. Mr Lafontaine was more than just any old German finance minister. He had hijacked Gerhard Schröder's economic policy and seemed he ...

Document Size:	6000
Author:	Doug Henwood
Date:	Fri Mar 12 07:57:33 PST 1999

38339 jail or Jesus? -- rank: 1000

[Two million prisoners a nice round number, says raver DiIulio...] Wall Street Journal - March 12, 1999 Two Million Prisoners Are Enough By John J. DiIulio Jr., a professor of public policy at Princeton University and a senior fellow at the Manhattan Institute. Violent crime has dropped 21% since 1993, and property crime is at a post-1973 low. No one really knows which demographic, economic or other factors explain what fraction of the decrease in crime. But recent studies confirm that increased ...

Document Size:	15969
Author:	Doug Henwood
Date:	Fri Mar 12 07:28:19 PST 1999

38340 CIA Socialists -- rank: 1000

Michael Pollak wrote: >It was. My impression was that Marcuse worked for the OSS during the war, >as many liberal and left intellectuals did, and left when the war ended; >it was essentially his term of war duty against the Nazis. As for what he >did, I'm pretty sure it had to do with analyzing German political >documents, just like you'd expect. I'm just about positive he never >worked for the FBI or the CIA. In a talk at the Brecht Forum in NYC a year or two ago, Joel Kove ...

Document Size:	5040
Author:	Doug Henwood
Date:	Thu Mar 11 21:04:02 PST 1999