Bill's Blow, Stock Blowoffs, and Millennial Madness
by J. Orlin Grabbe
A newsman in Arkansas sends the following information.
I don't know if it is true or not. But I find it plausible
given that both White House and military medical sources have
confirmed Bill Clinton's use of "five plus" lines of cocaine a
day (see "Bill Clinton's Cocaine Habit").
Oddly, we usually hear about Bill when
he sneaks back to Arkansas (and yes, he
does pop back here with absolutely no
public furor). One of his dearest
buddies (spelled "fellow cocaine-ista") is
a Fayetteville lawyer, Woody Basset.
Woody is the brother of Beverly Basset
Shaffer (wife of Archie "Don Tyson's"
Shaffer) and those folks have spent a lot
of time with Starr. Anyway, Bill has
been known to sneak home on occasion,
not in Air Force One, but, in a Tyson
corporate jet (the Hawker). Rumor is
he's getting really paranoid about where
he gets his blow from . . . kinda hard to
find a "taste tester" I guess. Last time he
snuck back here - about two months or
so as I recall - they actually had so much
security at Drake Field (Fayetteville)
that they were obvious. Bill and the
boys meet at the Clarion Inn (formerly
called the Park Inn) in Fayetteville. One
of our sources swears he'll be here just
after the convention for an evening of
fun and frolic. It'll be interesting to see
how much muscle he brings with him.
* * *
A former Democratic fund-raiser writes: "Here is
a statement that I e-mailed and faxed to many of my friends
and family last night [9/15/96]. What's the saying, Buy Rosh
Hashana and sell Yom Kippur? I sure hope that Wheeler is wrong
in this month's SI [Strategic Investment] and that Starr will
indict so we don't have to depend on Dan Burton!"
The letter follows:
This is a follow-up to the update sent
out yesterday. The reason is to remind
you FOR THE VERY LAST TIME to
protect your positions. As I read the tea
leaves, the odds are very strong that the
end of the bull market will complete
itself this week (for the Dow and the
S&P - it has already begun in all of the
other averages, including bonds).
At the earliest, my indicators show this
top completed last Friday. The latest
possible date will be September 27th.
Please note that the following projected
highs are intraday calculations, they
don't need to be closing prices. Note that
they increase 11 points/day as they track
the 21-day 3.5% exponential target
which has ended EVERY bull market
since the 1920's.
September 16th: 5909
September 17th: 5920
September 18th: 5921
September 19th: 5932
September 20th: 5943
September 23rd: 5954
September 24th: 5965
September 25th: 5976
September 26th: 5987
September 27th: 5998
My TIMING indicators show a high
probability for the top to be in place
between the 16th and the 18th. As of
tonight, the 17th is looking like the most
likely date, however, as this top is of
such historic importance, don't be
surprised by a few days extension.
The MOST LIKELY scenario is a little
more up intraday tomorrow, followed
by a strong sell-off on Mon and/or
Tuesday, followed by a final thrust up
Wed. or Thursday. However, a final
thrust up IS NOT REQUIRED here, it
will however complete one final sub
minuet wave five AND nicely match my
timing counts - for a PERFECT ending.
The sell-off AFTER the final thrust up
should be severe. I doubt any rally
tomorrow of more than 30 points can be
sustained, before a reversal. Whatever
remaining defensive moves you need to
make, DON'T WAIT ANY LONGER.
* * *
I quoted Carl Jung on symbols of transformation,
not on millennialism. However, for those interested in the
latter, here are some recommendations. The classic study
on apocalyptic religions is When Prophecy Fails, by Leon
Festinger, Henry W. Riecken, and Stanley Schachter. The
book examines what happens to religious groups when
their predictions or prophecies turn out to be wrong. Under
certain conditions, instead of losing faith in their previous
beliefs, members become more eager than ever to preach
and proselytize: if you can convert others to your way of
thinking, it proves that your basic world view must have
been correct, even if events didn't turn out quite the way
you expected. The bulk of the book was an in-depth study
of a UFO group.
Like Moses and Joseph Smith, a Mrs. Marion Keech
had received messages from extra-terrestrial sources. She
had studied Dianetics and Scientology and had been
"cleared" by an auditor and friend. Later in the early
1950's she began to receive messages from her "father"
and "Higher Forces" via automatic writing. She began to
associate the messages with the "flying saucers" which
were much in the news. The flying saucers turned out to
be manned by "Guardians" who told her the destruction of
the area by flood was imminent. When the prediction was
publicized, one of the sociologists joined the group for
covert first-hand observation. Having joined, he could
hardly remain a neutral observer, especially when Mrs.
Keech asked him to officiate at one of the meetings.
Norman Cohn's The Pursuit of the Millennium
gives an account of a 16th century Jewish messianic
movement. It also contains an interesting history of The
Protocols of the Learned Elders of Zion, the classic work
on the "International Jewish Banking Conspiracy",
fabricated in 1903 by the Czarist secret police from a
French satire, Dialogue aux Enfers entre Machiavel et
Montesquieu, by Maurice Joly.
One Christian group, the Jehovah's Witnesses, have
set various dates for the return of Jesus, then subsequently
reinterpreted each date when the Messiah failed to appear
("Prophetic Failure and Chiliastic Identity: the Case of the
Jehovah's Witnesses," American Journal of Sociology,
1970--I don't have the exact date). The journal article
covers the history of these failures in detail, and also notes
the principal device the group uses to confirm its image of
the future:
The most frequently used device has
been the selective interpretation of
emerging historical events as confirming
signs of the approaching end . . . . The
group's negative and pessimistic world
view sensitized it to perceive virtually
every major and minor social
disturbance and natural catastrophe as an
indicator of the impending collapse of
the earthly system. The varied forms of
unrest, generated in a society
undergoing rapid industrialization,
urbanization, secularization, and other
changes, were exploited to affirm the
hopeless bankruptcy of the prevailing
social system and its disastrous
downward spiral. The expressions of
vexation, alarm, and impending doom
voiced by various outside commentators
on the passing scene were similarly
drawn upon as outside evidence. A
related device has been the effort to
interpret the experiences and
achievements of the movement itself as
confirming signs of the approaching
climax and as validation of the sect's
conception of itself as an agency of
prophetic fulfillment . . .
However, as the financial disclaimer goes, "Past
performance is not necessarily indicative of future
performance."
* * *
A tourist in Prague worked his way across the
Charles IV bridge and up the hillside in the direction of St.
Vitus Cathedral. Suddenly he heard a cry, looked up, and
saw a man fling himself from a tall building. The man hit
the sidewalk a few feet away, took a small bounce, then
lay sprawled and motionless. The tourist didn't know what
to do, so hurried on down the street.
A few minutes later, police arrived and arrested the
tourist. Why?
It turns out that in Prague it is illegal to pass a
bouncing Czech.
September 16, 1996
Web Page: http://www.aci.net/kalliste/