| My guess is that in the next several months the news will have something about oil
prices rising and the stock market falling dramatically in response. With that
news item. Belatedly the TV news reporters such as Nightly Business Report and
Wall Street Week and the CNN will finally turn their ship around and see the link
between oil and stock market and on their news broadcasts the reporters will again
flood the airwaves with news of oil and stock market and how the two are linked.
They will no longer bother everyone with irrelevant issues such as Intel, Cisco,
Nortel layoffs and earnings decline expectations. Instead, they will report the
real-news, the real news that oil is moving higher and thus the stock market is in
for a prolonged bearish stock market. |
| Marcy quotes Frederick Engels, Karl Marxs comrade and
collaborator, who described the stock market over 100 years
ago. As it develops, wrote Engels, it tends to
concentrate all production, industrial as well as
agricultural; and all commerce, the means of communication
as well as functions of exchange in the hands of stock-
exchange operators, so that the stock exchange becomes the
most prominent representative of capitalist production
itself. |
| On Sept. 3, the Dow Jones industrial average--the
indicator for the blue-chip stocks--roared upward 235
points. Standard and Poors 500 Index also climbed
dramatically and the NASDAQ composite index--concentrating
on high-tech stocks--had its largest one-day gain ever. The
rally helped the bond market and lifted the dollar, which
was sliding recently against the euro and the yen. |
| It was ironic that on Sept. 3, the day the stock market
hit that high, AFL-CIO President John Sweeney rang the stock
markets opening bell. Whatever the reason for his
participation that morning, it was certainly welcomed by
Wall Street. |
| The USA economy and world politics is linked to oil supply. Oil is the main energy
source running world economies. Oil dictates whether you have a bull or bear stock
market. Uranium will replace oil in the future as the number one issue. The decade
of 2001 is now focused on Energy, not on Internet and Nasdaq high tech. They had
their heyday. |
