"Better times" cannot sustain stock prices

Hyman Blumenstock hystock at home.com
Sun May 3 02:17:59 PDT 1998


Why should this not be the case, when our productive capabilities can produce mountains of junk (of poor quality and service) for which there are a limited supply of customers. These customers in turn are denied the funding to purchase even what they need, compounding the problem. How can there then be money profits enough for everyone? This was the foundation condition of the Agrarian era -- try to produce ever more.

The Post Agrarian era came about because suddenly, a century ago, ENOUGH was produced or capable of being produced, demanding a radical change of philosophy or pursuing ever more production. Instead, a complete turn about was called for. Turn instead to the consumers themselves, all of us, and determine exactly what was needed and demanded, and produce ONLY that, to satiation.

Maintenance of the Agrarian philosophy of ever more production under the auspices of the Money and Price system wherein "satiation" is no longer a natural factor, in the face of this new reality, is the root cause of all current social problems and the rapidly accelerating demise of our once promising civilization, as demonstrated in <http://dieoff.org/page5.htm>.

Dennis R Redmond wrote:
>
> On Sat, 2 May 1998, Jordan Hayes wrote:
>
> > Finally: if you're so sure [of an impending Crash], why aren't you
> > buying puts?
>
> Said the cyberbroker to the fly. US stocks are way, way overvalued
> relative to their historical averages. And sooner or later, financial
> manias which aren't supported by a real economic boom (and for all the
> fireworks of the US stock market, real investment in America has pretty
> much stagnated throughout the 1990s, and growth rates have been miserable)
> come to a grievous end. This isn't to say there aren't good buys in the
> market -- just not in the US market. Those German/Swiss multinationals are
> a *screaming* buy. Japanese stocks are also a good buy -- don't expect a
> market upturn for another decade, but eventually Japan will become Asia's
> biggest rentier, and the Nikkei will have nowhere to go but up.
>
> -- Dennis



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