Perspectives on The Stock Market: a 7-Part Series
© Copyright 1999-2000 James J.Puplava

11-20-99 Perspectives Part 1     Miracle of Miracles

It has become the main topic of conversation around the country from the evening dinner table to idle chatter at cocktail parties. It has become the conversation-du-jour of the media ... from the evening news to talk radio to full time financial networks ... all devoted to the same topic.

I'm referring to the American stock market and its meteoric rise this year -- more than any other year in memory Read more

11-29-99 Perspectives Part 2     Why Not Dow 1,000,000?

For Wall Street it just doesn't get any better than this. As of this writing, the new Dow Jones Industrial Average has risen 20%, the S&P 500 is up over 15% and the Nasdaq has achieved a parabolic rise of over 53%. On Wall Street, they will be handing out more than just million dollar bonuses. It will be time to break open a bottle of Dom Perignon and light up a Macanudo. For the fifth consecutive year, if things hold up, the U. S. stock market will have achieved gains in the double-digits. Even better for Wall Street, it has been another record year for IPOs and mergers. For investment bankers, this is as good as it gets. Yet all is not well for fund managers and investors. Read more

12-05-99  Perspectives Part 3     The Earnings Game

It's unstoppable. Year after year the market has risen relentlessly, confounding even the experts. Each and every year since 1982 the Dow Industrials has ended the year at a higher level than where it began in January. During the 1990's and especially since 1995, that rise has been at double-digit levels. The experts make predictions at the beginning of the year only to become bewildered as the market smashes through their targets to much higher levels. Politicians point to the stock market's rise as confirmation of the wisdom of their policies. On Wall Street, economists and analysts are left with the task of explaining the gold rush in the financial markets.Read more

01/03/00 Perspectives Part 4     Trains, Planes &Dot Coms

As I sat down to write this edition of Perspectives on January 2, 2000, I thought about how much technology transformed the twentieth century. It is hard to believe that less than one hundred years ago, the landscape of America was rural. In the nineteenth century, America was unified by the technology of transportation. Railroads criss-crossed our continent, making travel between the east and west coasts a reality. The infrastructure was being laid, along with the tracks, for the U.S. to begin the twentieth century as an emerging industrial giant. The railroad, the steam engine and the telegraph were setting the stage for transforming the country from an agrarian society to an industrial powerhouse.Read more

02/02/00 Perspectives Part 5     A Chicken in Every Pot

It is the best of times or the worst of times -- depending on which economic neighborhood you live in. For politicians it is a good time to be in office. The economy is growing at rates not seen since the 50's and 60's. Everyone who wants to work can find a job. Wages and personal income are rising. Consumer confidence is high. The stock market has risen for 17 straight years. Corporate profits are up. The world is at peace. As the President declared in his "State of the Union" speech, "We are fortunate to be alive at this moment in history. Never before has our nation enjoyed, at once, so much prosperity..." Read more

"A chicken in every pot and a car in every garage..."
Herbert Hoover, 1928 Campaign Motto

03/10/00 Perspectives Part 6     Booms, Busts & Boomers

In economic terms things have never looked better. Most Americans have jobs. Wages are rising. The stock market is booming and the world is at peace. As far as economic recoveries go, we are enjoying the longest running expansion in the nation's history. As the graph below indicates, the economic recovery that began in March of 1991 continues to barrel along. Yet, recently in Washington the Fed Chairman, Alan Greenspan, warned that the prosperity we now enjoy is in danger. The problem is there are forces at play that may fuel a return of inflation. There are severe imbalances within the economy that, if left alone, could jeopardize the nation’s prosperity. Read more

04/18/00 Perspectives Part 7   Remembering Agincourt

On a gray and rainy day, October 25, 1415, a small English army led by King Henry V, although weakened by disease and hunger, met and defeated an overwhelming force of Frenchmen. Henry, a claimant to the French throne, had invaded France and seized the French port of Harfleur. As he attempted to make his way back to England, he feared meeting up with the superior French force of heavy cavalry. He and his troops of 6,000 consisted of light food soldiers and lightly equipped archers. They faced annihilation from the superior French army of 25,000 made up of armored cavalry and infantry. Read more

About the Author, James J. Puplava

Jim Puplava, your host of Financial Sense Newshour and Financial Sense Online, has spent the last sixteen years on Financial Sense communicating his practical knowledge of twenty years in the field of financial planning and investments. He is well known for his Financial Sense seminars which pioneered in the San Diego area in the early-eighties. His website, Financial Sense Online, has been active for two years. In the fall of 1999 and in response to the "market mania" so prevalent on Wall Street and Main Street, he began writing a seven-part series on the stock market.  Read more