Bear Market In Stocks Said Far From Over
Editor,
The Falls Church City Council has every right to be concerned about its pension funding. Powerful long-term cycles and multi-year chart patterns of the Dow Jones Industial Average and S&P 500 are sending warnings to those who understand what they are seeing.
I have been a student of cycles and a trader for more than 20 years. Ten years ago, I begged people to buy gold at $ 275 per ounce. Everyone laughed at me. Gold is now over $ 1,800 an ounce — and it is sending a strong message about the future. In early 2007, I told people my cycle work called for a major, historic high in the Dow in 2007. Once again, most did not heed the warning. Even the Wall Street crowd did not expect the meltdown that occurred!
The bear market in stocks that began in 2007 is far from over. In fact, 2007 – 2009 was only the first phase of this bear market. The second phase will be much more severe, and it will wipe out most investors.
The Federal Reserve’s efforts to reflate the historic debt bubble of the early 21st century have met with failure. Any future efforts will fail as well. The recent bubble was unprecedented. Now, macroeconomic cycles over which we have no control are cleaning up the mess.
Steve Carpenter
Falls Church
Appreciation Note In Aftermath of Husband’s Death
Editor,
Through this letter, my daugter and I would like to express our gratitude to all family members, co-workers at Man Tech International, friends, neighbors of the Winter Hill community, from the City of Falls Church, surrounding communities, and St James Parish, for generously stepping forward to help and express condolences and support in the death of my husband John D. Melton.
John fell ill while on summer vacation with the family; at the initial onset of symptoms, he flew back in the next return plane to seek treatment here in Virginia. The diagnosis: several small blood clots.
Optimistic by the improvement of his health, he reported to us daily. Energized, he embarked on a new home project which caused him a sprained ankle, prompting a change in treatment, swelling disappeared in a few days; elated, he told us, that he had ventured to walk to the Giant and back!
Throughout his illness John kept working from home. Co-workers from ManTech brought meals, it was encouraging to know that they would go out of their way to bring him food.
I wasn’t well either, John assured me that he was stable, recommending that I stay till the end of the trip, making it worthwhile for our daughter, for it would be discouraging for her to miss out on time with family and places of interest, already in the itinerary.
Suddenly, more pain caused an unexpected turn for the worse: kidney stones. In less than two days, John died on the way to the Doctor’s office. His last hour passed in the company and comfort of his friend Lee, who was driving the car. My daughter and I are profoundly indebted to him.
To John’s siblings, friend and neighbors who lent a helping hand. Fr. Majka, Mrs. Lauby, the cantor, for the liturgy at the funeral; and, very specially, Mrs. Margo, walking us through the adjustment; also to those not mention here, please know you are in our hearts, grateful for all you do, in helping us pull through in such trying times.
In John’s memory,
Jolanta Melton
Falls Church
Thomas Wrong About Duration of Occupation
Editor,
Helen Thomas is entitled to her opinion on the Arab-Israeli conflict, but she is not entitled to rewrite history.
In your September 8-14 issue, her column discusses “the brutally oppressed Palestinians who have been occupied for 63 years by the well-armed Israelis.” Sixty-three years would have the Israelis in charge since their War of Independence in 1948 until today.
In fact, the Palestinian Territories were occupied by Arab Countries from 1948 until the Arab-Israeli War of 1967. The Gaza Strip was occupied by Egypt and the West Bank by Jordan. During that period of Arab occupation of Palestinian territory, neither Egypt nor Jordanmade any effort to grant the Palestinians independence.
So, at most, Israeli has occupied Palestinian territories since 1967, or 44 years, while Arab countries occupied the area for the 19 previous years.
In fact, Gaza has enjoyed quasi-independence since 2005 when Israel completed withdrew its settlers and military on September 12 and handed over administrative authority to the Palestinian Authority.
Whether or not Israeli occupation has been “brutal” is open to debate. A good case can be made that “occupied” Palestinians have a more free and prosperous life than citizens of most, if not all, neighboring Arab countries, including Egypt and Jordan. But Helen Thomas certainly knows her history better than to claim Palestinian territory has been occupied by Israel for 63 years.
Hank Seiff
Falls Church
Letters to the Editor may be submitted to letters@fcnp.com or via our online form here. Letters should be limited to 350 words and may be edited for content, clarity and length. To view the FCNP’s letter and submission policy, please click here.
