HSL / Newsletter Sample

Uncle's Notes
May 2003

Though I’m cautiously bullish on stock mkts for a continuation of the rally underway, technical indications call for a dip on May 5-7. Probably a good time to buy, if key supports hold. Plez read US Mkts section for details, with implication for world mkts, pg 8. Also Back to Futures, pg 11. •••US jobless rate hit 8yr high at 6%. Longtime family readers wisely smiled, as I predicted 6% about 18-24mos ago when it seemed very radical. •••Blair’s Labour Party big by-election defeat last wk supports my pg 2 article on No opposition, that U can win via principles. Sexy candidates aren’t necessary. PS: I agree with Samuel Brittan (FT) it was a mistake to open the election of UK Conservative leadership to the whole party. That was socialist, not “republican.” Must be reversed.

I agree with Richard Maybury (Early Warning Report, US fax 602-943.2363) who says: "An investment forecast that doesn’t begin with a look at the military situation is blind. This is a war economy, & scope of this war is unlimited, so possible effects on the economy & our investments are unlimited." RM says we’re into WW3, without question,& more threats to our individual freedom. Says US is trapped. US must leave Iraq, but can’t, ever, due to Sunnis vs Shiites& Kurds vs Turks & oil control. Says “Syria, Iran, Russia & others in the New Axis will help Iraqi guerrillas to make war as long & awful as possible.” Says WW3 is both an oil war & a religious war.” Says Iraq not going from war to peace, but war to chaos. US also trapped in Afghan, has made many things worse; people talk about the good old days under the Taliban. •• All this reminds me of the British invasion/ occupation of Iraq, 86 yrs ago. The General in charge said: “ Our army doesn’t come as conquerors, but as liberators.” He condemned the bad Ottoman rulers, said we have saved U from those tyrants. Does anything ever change?

HSL is copyright material of value. Please don’t send my work on to other parties. Doing so is a violation of moral & copyright law. Violators will be blacklisted from receiving future copies of HSL. Thanks for your cooperation. “All a writer has to sell is his thinking/advice; he who steals it steals his livelihood.”-anon. Sending a single copy of HSL to a friend to encourage him to subscribe is a big favour to me! Multiple copies are cheating. •••A reader calls US “a teenage country” does not live (nor measure true wealth) by GDP alone! I lived in Rome for most of 1960, near the Vatican. It’s like living in a museum of treasures. Happy birthday Roma! vs Rome, which just celebrated its 2,750th birthday! Man does not live (nor measure true wealth) by GDP alone! I lived in Rome for most of 1960, near the Vatican. It’s like living in a museum of treasures. Happy birthday Roma!

Grundig, a Euro icon, seeks bankruptcy! Will Germany be the next Japan? If unions can’t be tamed, it’s possible. ••US prices soar to 2-yr high. Euro prices at 12-mo high. Is inflation or deflation the threat? Yes! Both. Inflate what people need. Deflate what they want. ••US govt deficit for March: $58.71 bil. 2003 shortfall total: over 1/4 trillion dollars! ••Topcat economist Stephen Roach, Morgan Stanley, says: “My recession- warning model is flashing a high alert.” ••Scumbag wife Winnie Mandela (necklacing murder queen) gets jail sentence. Justice at last! ••Ted Turner, ex CNN boss, says only 5 companies control 90% of what we see/hear. Sez “It’s not healthy.” Amen. ••IMF warns of uncertain global recovery. •• Goldman Sachs beautifully says “We’re in slow shift from 1/2 full to half empty.” ••OPEC cuts output. Will do so as needed. Oil won’t crash. ••“US power shows significant signs of cresting” says David Roche, Independent Strategy, London/HongKong. Says “Rather than making US invulnerable, US military might will cause fear, hatred, growing extremism, & invite terror attacks. If military action were a terror solution, Israel would have been at peace years ago.”


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