stox

[Louis Proyect]

>It depends on how long you're willing to wait: "later" is hardly
>a useful metric for time.  The other sticky word, of course, is
>"value" -- what's the value of Microsoft?  How might you measure it?
>Is Microsoft overvalued today or is it undervalued?  I'll give you
>a break: was Microsoft over valued or undervalued three years ago?
>
>Hindsight is 20/20, but I don't think this question has an answer.
>
>Hmmm.  So I guess I'd answer your question with: no, that's not
>the point.
>
>/jordan
>

All this is stock market chit-chat. I am talking about something more
fundamental. When people in Thailand are reduced to eating bark, I would
say that the "miracle economies" of East Asia are in bad shape. Today's
Times reports that the Russian stock market is in free fall. On top of that
the workers are calling for a general strike. Investors must be very
nervous about the Russian situation. With the IMF bailout, things are still
very dicey over there. If I were a member of the ruling class right now,
I'd be quite nervous.

Louis Proyect

(http://www.panix.com/~lnp3/marxism.html)