Enron

   / Enron #41  
Couldn't have said it better Terry. And to say we have this country over a simple penny tax on tea!!! My gosh what would they have done over the craziness these sob politicians have done to us now?!!?
 
   / Enron #42  
Terry,

Egads! No Social Security Trust Fund?!?! You mean all the money I've been contributing since I was 15 wont be waiting for me when I turn 65???? /w3tcompact/icons/eyes.gif /w3tcompact/icons/laugh.gif

Next you will be telling me that when a politician says they want to 'increase investment in' they really mean my taxes will be going up. /w3tcompact/icons/wink.gif
 
   / Enron #43  
Enron is only the tip of the iceburg. Let me quote you what Robert Prechter says in his 2/1/02 edition of the Elliott Wave Financial Forecast.

"The public's growing sense of anger over Enron and now, corporate America in general, is no surprise to our subscribers...Enron is a twin to the Insull Utility Trust scandal that broke in the wake of the crash of 1929...the revelation of corporate duplicity brought to light during the investigation led to a public outcry for reform. The same steamrolling public opinion is clearly on the loose, again...the profession is up to its eye-shades in sleaze, right where EWT and EWFF said it would find itself in the bear market...A new bear market reality it taking form in the newly stringent accounting mindset...Goodwill accounting principles have been altered in a way that will crush the earnings of many firms for years to come...the [Enron] collapse fits right in with our forecast for the bear market...Enron's near-total destruction took 14 months. Then, Time magazine reported, 'It's the scariest type of scandel: a total system failure.' If the system is a total failure and the media can only inform investors of the next failure after it is over, and the numbers that investors are supposed to use to do their own homework cannot be relied upon, the only answer is to sell."

Enron has caused a crisis of confidence on Wall Street. Investors now question the Wall Street analysts that recommended this stock, they question corporate accounting methods, and they question everything CEOs and CFOs say. This crisis of confidence will cap any Wall St. rallies. More so, it will likely cause even further selling in the days ahead, maybe dramatically so.
 
   / Enron #44  
Well... doesn't this forecast give warm and fuzzy feelings!! /w3tcompact/icons/shocked.gif

Looks like my kids will have to take care of me and the wife when we get old./w3tcompact/icons/wink.gif

Terry
 
   / Enron #45  
If one followed the news, liberal as it is, the greed and lack of scruples shown by these corporate officers is almost as obvious as is the LACK of any favors by the current administration towards them. Yes they took some donations, but the Democrats took as much if not MORE while they were in the White House. Not only that, the executives of ENRON as well as Global Crossing<font color=red> (whom gave huge donations to the Clinton administration and his Library fund)</font color=red> were treated to sleep overs in the Lincoln bedroom for tidy donations. Many folks in my area are directly affected by the crash of Global Crossing stock. To accuse Bush of being responsible or involved more than any other politician, particularly Clinton /w3tcompact/icons/tongue.gif, is ludicrious. As far as a Social Security Trust Fund, who is kidding who here, there is no such thing /w3tcompact/icons/mad.gif, just the promise to pay because that money does not exhist yet! Social Security is a <font color=red>RISKY SCHEME</font color=red> based on a pyramid, begun by the Democrats many moons ago. You will notice that while the Democrats held control of congress for most of the last sixty years, they excluded themselves and government employees from the program /w3tcompact/icons/hmm.gif. Odd, isn't it!
 
   / Enron #46  
From what I understand, Social Security was originally intended to be a supplement to retirement, not a complete retirement program in itself. Of course all of the programs originally intended to "help" somehow evolved into entitlements. It seems to me that some Americans have perverted the meaning of rights to mean "whats in it for me right now" and seem willing to give up our Constitutional Rights that have a long-term affect on the quality of life for their families and future generations; such as John McCain and company's anti-speech bill mis-characterized as election reform. And of course the on-going attempt by many in government and media to erode our Second Amendment rights.
Bayrat, I hope you didn't mind me adding to your post, I agree with you 100% and had to add my 2 cents before Senators Kennedy and Feinstein get a law passed against two conservatives communicating with each other /w3tcompact/icons/laugh.gif/w3tcompact/icons/laugh.gif

I feel better now. /w3tcompact/icons/smile.gif

Gene
 
   / Enron #47  
First Enron, then Tyco, Williams Co., Global Crossing, now today Big Blue in midst of accounting questions. If Big Blue goes down the tubes, watch all of Wall Street follow suit as no investor will trust anything that any analyst says. The only mode of operation will be to SELL, SELL, SELL ................... /w3tcompact/icons/sad.gif Then, we can all go back to the good old days, buy our tractors, and farm our land just the way our grandparents did /w3tcompact/icons/smile.gif

BTW, watch gold prices in coming years. I predict new highs, maybe dramatically above the old high of $850 recorded in Jan/80.

Trivia Fact: Gold was the best performing investment during the worst years of the Great Depression.
 
   / Enron #48  
Do I mind Gene? Of course not! I applaud those that identify themselves in a forum such as this and can articulate a point of view without personal assaults. Even though we agree on this topic /w3tcompact/icons/laugh.gif. I have noticed on other boards, those that have radical leftist/socialist ideals often become abusive or threatning and usually do not identify themselves, or they change their identity often. Wonder why that is /w3tcompact/icons/hmm.gif???
 
   / Enron #49  
<font color=blue> Yes they took some donations, but the Democrats took as much if not MORE while they were in the White House.</font color=blue>

<font color=blue>I have noticed on other boards, those that have radical leftist/socialist ideals often become abusive or threatning and usually do not identify themselves, or they change their identity often. Wonder why that is?</font color=blue>

Ah yes. Chuck here. Almost the only semi-liberal voice crying in the wilderness it sometimes seems.

First, where are the numbers for the first statement from? At least so far as Enron is concerned, all the numbers I've seen say the Republicans received more total money by quite a bit than did the Democrats. However, like the fella said, a few million here and a few million there....who cares? If one wishes to put the best light on such political contributions, it is only necessary to suggest that the Enron officials involved felt the Republicans might be more business oriented and therefor more inclined to support legislation favorable to them. That makes it much more palatable, doesn't it? However, I would just like to point out that having publicly declared "conservative" ideals is not a guarantee of honesty. I would like to know what was discussed in the Cheney talks with Enron and other energy industry types. I doubt public disclosure would hurt the communication between the administration and those folks, unless they were maybe talking about things they really wouldn't want the public to know. I have a little trouble understanding how one could demand full and complete disclosure of all details of Clinton's sex life and also feel that Vice President Cheney's discussions about public energy policy with energy industry are sacrosanct, as some folks who identify themselves as conservative do, but that probably doesn't apply to anyone here.

Since I am not anonymous I guess the second comment doesn't apply to me. However, again, I would like to point out that these discussions often seem to imply that anyone the least bit liberal in their leanings must be at best non-patriotic and/or a fool who simply does not understand how this country should be run. Complain as we all might about the problems with the Social Security system, it is a fact that many people in this country would have little or nothing to retire on without it. My mother, for example, worked hard to support four children after my father died at 43. She was a bookkeeper for a small company which did not and probably could not have afforded a real retirement plan. Because she has four reasonably successful children, my mother is not totally dependent on SS, but it does give her some independence. There are many, many, many older folks who are <font color=red>totally</font color=red> dependent on SS. Is that good? What is the alternative? Who's fault is it? I think it might be difficult laying all the blame for the demographic and societal changes this country has undergone in the last century at the feet of the "liberals", but by gosh it sometimes seems to me in reading these discussions that not only are all the problems due to the evil liberals, but Bill Clinton himself, or maybe Al Gore, caused it all, perhaps by going back in a time machine to take care of anything they were unfortunate enough to have been born too late to affect in the normal timeline! /w3tcompact/icons/tongue.gif

Chuck
 
   / Enron #50  
I believe if the Clinton library donations are figured in the Dem's win. However, that is a mute point as they all take it and it is everyone's right to give it. The fact that the republicans did NOT return favors for the donations is what matters. Unlike the Clinton era where trade restrictions on sensitive technology were lifted by presidential decree to give the Chinese missile technology in return for large donations and the like was common practice. I guess the honesty issue comes from the half truths pimped by liberal politicians and backed by the media, not from folks such as yourself. As far as most politicians go, I would like to see them all drug tested, along with the presidents. You need to have that done to drive a truck but not aim a missile?????

Social Security is doing for your mom what it is supposed to do, and for mine as well. I have a problem with it being hawked as a retirement fund or used as a another welfare program as it is when applied to druggies and drunks. I can embellish further if you wish.

Nice chatting with you Chuck/w3tcompact/icons/smile.gif.
 

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