Online trading activity is picking up again, in case you were
wondering where your neighbor was hiding.
Foreign Affairs
Israel deserves heat for selling China a highly sophisticated $250
million radar system. The system could be used to aid an attack
on Taiwan. And, since our military shares much of our
technology with Israel, in essence China is acquiring more of our
best work.
Speaking of China, talks on admittance to the World Trade
Organization seem to have reached an impasse. China is also
continuing to play hard ball with the issue of foreign investment
in their Internet companies. And they continue the crackdown on
Falun Gong (Dafa…I wish the press would settle on one name)
with a leader on Friday being sentenced to 12 years.
Pakistan’s new military leader…now George W., what’s his
name?…it’s Musharraf…said that the government would put
former prime minister Shariff on trial for treason and kidnapping
with the death sentence a real possibility. A show trial is the last
thing that nation needs.
Prime Minister Mahathir of Malaysia is trying to pull a fast one.
He may call for early elections to solidify his authority. How
early? Oh, less than 3 weeks. Of course, opposition forces have
not had the time to formulate plans to present a united front
against him.
The U.S. has contingency war plans in case the Serbian province
of Montenegro goes through with its own plans for independence.
Other European nations seem prepared to act quickly if Milosevic
makes a move to prevent this.
In Kosovo, over 400 have been murdered…since NATO moved
in.
The World Bank issued a report which told the tale of corruption
in Eastern Europe. The average “bribe tax” in the former Soviet
Union is 5.7% of a company’s revenues. These funds fill the
coffers of local and state government leaders.
This Week in Politics
I love polls and, let’s face it, while not always accurate, they do
give a good snapshot of sentiment for a given point in time. So I
will keep bringing them to you.
In New Hampshire, the figures are changing so fast that a
Newsweek poll from 10 days ago is ancient history. It had
McCain trailing Bush badly, about 17%. However, what is now
apparent is that it is a dead heat. McCain’s whole strategy is to
pull off the upset in New Hampshire (he’s more or less blown off
Iowa) and then parlay this win with a victory in South Carolina
where he hopes to tap into that state’s 400,000 Veterans.
A U.S. News & World Report nationwide survey shows Bush
leading McCain 66-13. It also has Bush beating Gore, 57-35 and
Bradley, 53-37. Gore leads Bradley, 55-34. A CBS / New York
Times nationwide survey shows Bush beating Gore, 50-41 and
Bradley, 51-39. Gore leads Bradley 56-30.
And the same CBS survey had other interesting tidbits. Bush
leads Gore, 50-41, among women, and 51-41, among men.
For Congress, when asked which party people will select for their
respective district, 45% say they will vote Democratic, 38%
Republican. Not good…wrote the right-of-center editor.
By the same 49-33 margin, voters believe Democrats are more
apt to make the right moves on both Social Security and
education.
And check out these numbers concerning the Reform Party. 53%
of voters have a negative view of it. Furthermore, Donald Trump
has an approval rating rivaling the uniform number of Ed
Kranepool….and Mickey Mantle….7%! His unfavorable rating is
70%! This 70% figure is the highest ever recorded by the CBS /
New York Times surveys. To put it in perspective, Linda Tripp
had a 55% unfavorable rating. And this was before The Donald
announced his 14.25% one-time tax surcharge on the rich.
Al Gore recently spoke of the administration’s foreign policy
achievements. He rattled off “the expansion of NATO, Bosnia,
Haiti.” Mr. Veep, where I come from we call these three,
disasters, with a capital “D.” Gore also said of Clinton, “1500
years from now (his) historic achievements will loom larger.”
Spare me. [Yes, that’s not a typo…1500].
Hillary Clinton got in some hot water on her trip to Israel.
Certified nut job, Suha Arafat, gave a speech wherein she
proclaimed that the Israeli military was employing poisonous
gases that were infecting the Palestinians. Afterwards, it took
Hillary a full day to condemn the lunacy. [Hey Yassir, ya got
yourself a real winner there!] Of more importance is the fact that
Hillary continues to charge taxpayers for trips such as this when
even your local village idiot knows that a trip to Israel, at this
time in her undeclared, declared candidacy, is a campaign trip.
Hillary was also blasted in a New York Times editorial, of all
places, for using “soft money” loopholes to produce “issue ads”
not paid for by her campaign. [She doesn’t pay for anything,
does she?] The ads don’t actually say “Vote Hillary,” instead
they say “Call Hillary,” so thus they aren’t of a “campaign”
nature. Aren’t you tired of this B.S.?
Finally, the budget fight is winding down with the repayment of
our UN dues looming as the final obstacle. So far, Clinton has
kicked the Republicans butts.
Random Musings
–Can Turkey catch a break? Next big earthquake, Tokyo.
That’s not me. Their own government is bracing for it, soon, and
projecting about 7,000 deaths.
–As part of his soon to be built presidential library, Bill Clinton is
going to have a connecting apartment. “Hey Joe, why don’t you
bring that perky blonde…”
–Vietnam War Vets are furious that “Hanoi Jane” Fonda was
recently selected as one of the 100 most important women of the
20th century in a just-released book.
–The Artist formerly known as Prince, who wanted to be known
simply as “The Artist,” now just wants to be known by his weird
symbol. Yoh Prince, here’s my symbol for you, @#$%!
–Jesse Jackson was at it again this week, this time in Decatur, IL.
Last September 17th there was an ugly fight at a high school
football game. 6 students were later expelled for 2 years as the
Decatur school system employed its new “zero tolerance” policy.
Jackson got involved because he felt the punishment for the
students (all black) was excessive, and there was no home-
schooling provision. Well, I sympathized with both sides and
thankfully a compromise was reached at week’s end. One year
expulsion coupled with home schooling. The frustrating thing is
that, as the Decatur superintendent said, “people don’t want to be
held accountable for their actions anymore.”
–Jerry Seinfeld was in the news twice this week. First, he is now
a confirmed home-breaker as he announced his engagement to
some 28-year old chickie he met at a health club. The problem is
she was very married when he started dating her, not that there is
anything wrong with that. Then we learned that there is a new
computer virus which goes by the name of “bubbleboy,” a take
off on one of Seinfeld’s best episodes.
–Scientists are concerned that the solar-storm cycle we are
currently in will peak in 2000, posing a threat to satellites and
power grids (particularly in the U.S.). Maybe Dr. Bortrum can
check this out. And by the way, if you’re not reading Bortrum,
you’re missing a real treat.
–You may have heard about the two stock promoters who were
gunned down in Colts Neck, NJ about two weeks ago. Well, it
was revealed this week that one of the victims was shot once in
each eye, each ear and the mouth. As a detective commented, the
victim “heard too much, saw too much, and spoke too much.”
Now you know why I don’t tout individual stocks.
–The other night I treated myself to a moment of moronic
television and switched on “Hollywood Squares” for the first
time since Paul Lynde (now looking back, there was a character)
occupied the center square. I was watching all of 5 minutes when
a contestant failed to know that the phrase “Life, Liberty and the
Pursuit of Happiness” came from the Declaration of
Independence. Click. I then resumed my reading of the latest
issue of “Defense News.”
–If you are a parent who took your child out of school the other
day to see “Pokemon: The First Movie,” I just don’t get it. As
my friend Johnny Mac and I were discussing, the sad part is that
more kids know all about freakin’ Pokemon than know the
meaning of Veterans Day.
–And as for Veterans Day, as the century draws to a close just
take a moment to reflect on a quote I saw in a chapel at the
American cemetery in Normandy. “Think not only of their
passing, but remember the glory of their spirit.”
Gold closed at $291
Nymex Crude Oil, $24.91 [Crude oil inventories are falling
quicker than anticipated and OPEC continues to stick to their
production cuts. Cold weather early this coming week will only
fuel thoughts of a price spike at year end].
Returns for the week, 11/8-11/12
Dow Jones +0.6%
S&P 500 +1.9%
S&P Midcap +1.4%
Russell 2000 +1.7%
Nasdaq +3.8%
Returns for the period, 1/1/99-11/12/99
Dow Jones +17.3%
S&P 500 +13.6%
S&P Midcap +6.9%
Russell 2000 +6.6%
Nasdaq +46.9% [Nasdaq 100, +57.4%]
Bulls 44.4%
Bears 35.9% [Source: Investors Intelligence]
*Not including dividends.
**Did you order your coffee mug yet? If for any reason your
mug is damaged in the shipping process, please let me know. I
will personally fly out…well, not quite, but I take this seriously.
You’ll get a new one. And remember, the StocksandNews.com
coffee mug makes for a perfect stocking stuffer. You know how
each year at the end of Christmas Day you tell your family
members it was the best Christmas ever? Well, I envision the
following conversation taking place all across America this year.
“Honey, I really appreciated that new Lamborghini, but you know
what really made this a Christmas to remember? That
StocksandNews coffee mug.”
Brian Trumbore
Update: Saturday, 6:00 p.m., ET. Oh, the irony of it all. The above
was written Friday, pm. Little did I know that come Saturday
morning I would have a problem with an organization, Bell Atlantic,
who failed to do their own job. To my loyal viewers, all I can do is
apologize.
Update: Sunday, 10:00 a.m., ET. Russian Prime Minister Vladimir
Putin has an op-ed piece in the Sunday New York Times, defending
Russia”s actions in Chechnya. It is so reminiscent of the speeches
we heard from Russian leaders during the Cold War it”s not even
funny. It”s simply full of lies.
