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THE REAPER MARKET COMMENTS
Prepared by R.E. McMasters, Jr.
General Market Comments
Does the government think we're all turkeys? We're told that in the world of new science that if a butterfly flaps its wings in the Asian rain forest, it contributes to a hurricane in the Gulf of Mexico. Moreover, we are told now our global village is shrinking and therefore we need a New World Order so we can live in peace and harmony. Okay, then why is nuclear power okay for China but not okay for this country? And why is it the deflationary collapse of the financial markets in Asia can be isolated and not affect the U.S. economy and financial markets? Oh the incongruities, inconsistencies, and hypocrisies of modern times.
How dare us question the bull market in stocks. (Our primary concern should be who will win the Super Bowl, San Francisco or Denver.) Heaven knows there's been enough money, too much money, created by the U.S. Treasury and the Federal Reserve impacting the U.S. futures markets to support the stock market. Will this affect my late November/early December financial turning points? How dare us be concerned about deflation in Japan and the Asian tigers impacting Latin America and the U.S. markets, and holding our investments in Swiss Francs, German D-marks, Norway Krones, British Pounds, the Benham International Bond Fund, gold, gold stocks, the Benham Prime Money Market Fund, Benham/American Century Capital Preservation Fund, U.S. T-notes, U.S. T-bonds, Benham Target Maturities Trust: 2005, American Century Utilities Income Fund, and short positions in the U.S. stock market via the Rydex Ursa Fund. Then there's the ultimate hypocrisy, putting money in banks with deposits under $100,000 and the final blasphemy, holding cold cash. Obviously, we're just turkeys waiting to be plucked. ...Or are we? The analysis presented in the November 11 Reaper lead article on Market Inter-Relationships and Strategies still holds. Diversification against this chaotic financial helter skelter is prudent.
November 25, 1997R.E. McMaster, Jr., Editor
The Reaper
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