re: An open letter to Dr. David Hartman

2002-08-29 Thread Tom Walker

In Canada, aboriginal land claims are taken seriously. The BC Supreme court
recently ordered 10 acres in the middle of Vancouver to be returned to the
Squamish First Nation. The doctor's philosophizing is the sort one hears
from those occupants of a tavern whose rear ends have become molded to the
seats and whose voices have been polished to a smooth gravel by decades of
tumbling in stale smoke and cheap alcohol.

 What if some Indian showed up on 57th street and asked for his land back,
nobody would
 take him seriously.

Tom Walker
604 255 4812




Varian quotes Marx

2002-08-29 Thread Devine, James
Title: Varian quotes Marx





New York TIMES/August 29, 2002


When Economics Shifts From Science to Engineering
By HAL R. VARIAN



ECONOMISTS think of themselves as scientists; their primary goal is to understand how the economy works. But scientific knowledge is not their only goal; as a famous economist once remarked, The point is not to understand the world, but to change it.

(http://www.nytimes.com/2002/08/29/business/29SCEN.html?tntemail0)



Jim Devine [EMAIL PROTECTED]  http://bellarmine.lmu.edu/~jdevine





Re: Varian quotes Marx

2002-08-29 Thread Doug Henwood

Devine, James wrote:

New York TIMES/August 29, 2002

When Economics Shifts From Science to Engineering
By HAL R. VARIAN


ECONOMISTS think of themselves as scientists; their primary goal is 
to understand how the economy works. But scientific knowledge is not 
their only goal; as a famous economist once remarked, The point is 
not to understand the world, but to change it.

(http://www.nytimes.com/2002/08/29/business/29SCEN.html?tntemail0http://www.nytimes.com/2002/08/29/business/29SCEN.html?tntemail0)

Yes, and later this distinguished economist writes:

Other economic engineering projects have not fared so well, with the 
California electricity market being a notorious example. The famous 
economist quoted above was Karl Marx, who also had ideas about 
economic design that ended disastrously.

Marx as economic designer? The things you learn reading the NYT!

Doug




RE: Re: Varian quotes Marx

2002-08-29 Thread Devine, James
Title: RE: [PEN-L:29962] Re: Varian quotes Marx





yes, it pays to read the whole article. But it didn't seem interesting after the initial bit. 



Jim Devine [EMAIL PROTECTED]  http://bellarmine.lmu.edu/~jdevine




 -Original Message-
 From: Doug Henwood [mailto:[EMAIL PROTECTED]]
 Sent: Thursday, August 29, 2002 9:22 AM
 To: [EMAIL PROTECTED]
 Subject: [PEN-L:29962] Re: Varian quotes Marx
 
 
 Devine, James wrote:
 
 New York TIMES/August 29, 2002
 
 When Economics Shifts From Science to Engineering
 By HAL R. VARIAN
 
 
 ECONOMISTS think of themselves as scientists; their primary goal is 
 to understand how the economy works. But scientific knowledge is not 
 their only goal; as a famous economist once remarked, The point is 
 not to understand the world, but to change it.
 
 (http://www.nytimes.com/2002/08/29/business/29SCEN.html?tnte
 mail0http://www.nytimes.com/2002/08/29/business/29SCEN.html?t
 ntemail0)
 
 Yes, and later this distinguished economist writes:
 
 Other economic engineering projects have not fared so well, with the 
 California electricity market being a notorious example. The famous 
 economist quoted above was Karl Marx, who also had ideas about 
 economic design that ended disastrously.
 
 Marx as economic designer? The things you learn reading the NYT!
 
 Doug
 





Re: Re: Varian quotes Marx

2002-08-29 Thread Michael Perelman

What is amazing is that most economists are certain that Marx laid out a
blueprint for socialism.  So Varian's comment would not appear as ignorant
at a meeting of the American Economic Association.

 
 Yes, and later this distinguished economist writes:
 
 Other economic engineering projects have not fared so well, with the 
 California electricity market being a notorious example. The famous 
 economist quoted above was Karl Marx, who also had ideas about 
 economic design that ended disastrously.
 
 Marx as economic designer? The things you learn reading the NYT!
 
 Doug
 

-- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]




An open letter to Dr. David Hartman

2002-08-29 Thread Louis Proyect

Dear Dr. Hartman,

I saw you last night on David Shipler's fine PBS documentary on the 
Israeli-Palestinian conflict where you were billed as a Jewish philosopher.

I myself was raised as a Jew and attended both Hebrew School and an 
orthodox synagogue in the Catskill Mountains until I was bar mitzvahed. 
Nowadays, my identification with Judaism is fairly constrained. I enjoy 
very early Woody Allen movies and good cantorial singing, like Josef 
Rosenblatt's.

As I am sure you are aware, Jews have largely abandoned orthodoxy in the 
USA as they became more assimilated. My own 82 year old mother hates 
orthodoxy with a passion and attends a Reform synagogue in a nearby town 
with her 87 year old friend who was one of the founders of the temple. When 
I asked him recently why local villagers launched a reform synagogue when 
they already had an orthodox shul, he spat out, The orthodox rabbi used to 
make us feel like a bunch of goyim. My understanding is that the orthodoxy 
in Israel is instilling the same feeling among many Jews who do not pass 
their litmus test.

I am taking the trouble to write because of something particularly 
disturbing that came out of your mouth during Shipler's show. (Now granted 
nearly everything you said smacked of the kind of self-righteous Zionist 
apologetics that is turning Israel into a pariah state backed only by the 
most rightwing Christian sects in the USA.)

But when you likened the Palestinians to American Indians, I nearly threw 
my shoe through the TV. You shrugged your shoulders and said, What if some 
Indian showed up on 57th street and asked for his land back, nobody would 
take him seriously. That doesn't seem like philosophy to me, David. It 
seems like justifying genocide.

What are the statues of limitations for genocide? What if Hitler had been 
victorious against the allies and it took a long, protracted war of 
resistance to overthrow Nazism? Would we tell Jewish victims of genocide 
that they could not be compensated for crimes committed  beyond some 
arbitrary cutoff date, like 50 years? I would think that we Jews would have 
much more compassion for the American Indians, who in fact are suffering as 
if their Nazis had won the war. I speak here of course of the Andrew 
Jacksons and Teddy Roosevelts of this country who considered the Indian an 
'untermenschen'. Can you imagine what it would be like for a Jew living in 
Nazi Germany to see soccer teams called the Munich Kikes? That's what it 
is like for Indians who have to put up with racist baseball team mascots 
like the Cleveland Indians: http://www.aimovement.org/ncrsm/

In any case, you should be aware that many younger Jews would find your 
views deeply offensive. Rather than identifying with the victorious racist 
American conquerors of the indigenous peoples, we Jews should be 
identifying with the oppressed of the world.

Unlike yourself, Jonathan Sacks, the chief orthodox rabbi in Great Britain, 
seems to be moving slowly but surely in this direction, as reported in the 
Guardian 2 days ago. He said that he was profoundly shocked at the recent 
reports of smiling Israeli servicemen posing for a photograph with the 
corpse of a slain Palestinian. As I am sure you are aware, there are many 
photographs of the American cavalry gloating over Indian corpses in the 
19th century.

While Dr. Sacks has earned the wrath of uncritical supporters of the Sharon 
government, there are many other Jews who back him, including Dr Michael 
Harris, the Orthodox rabbi at the Hampstead Synagogue in London, who wrote 
in yesterday's Guardian:

Both in the British Jewish community and in the wider national arena, it 
is the voice of the chief rabbi, Professor Jonathan Sacks, that has in 
recent months provided probably the most sustained, powerful and articulate 
reminder of the essential justness of Israel's cause. As reported in 
yesterday's Guardian, the chief rabbi has now drawn attention to the moral 
dangers inherent in a situation of prolonged conflict such as that between 
Israel and the Palestinians.

He is right to do so. As far as religiously aware Jewish exponents of 
moral values are concerned, justice, compassion and sensitivity are not 
merely liberal western ideals grafted on to the fabric of faith. Rather, 
moral concerns and empathy with the suffering of others are rooted in the 
deepest layers of Jewish tradition and belief. It is the Hebrew Bible that 
first taught us to see in other human beings the image of God. In the 12th 
century, Maimonides, the greatest Jewish philosopher of the Middle Ages, 
described the purpose of the Torah as the fostering of mercy, compassion 
and peace in the world. That is why, despite the healthy diversity of 
political opinion concerning Israel in the British rabbinate, I am happy to 
be one of several Orthodox rabbis who support Prof Sacks's wise words of 
caution concerning Israel's current situation.

In the Book of Chronicles, God tells David that he may not 

Re: Re: Re: Varian quotes Marx

2002-08-29 Thread pms

Blaming Raygun's de-reg rag and Enron's criminal behavior on the commies.
Does the Admin have a hard-working pr machine or what?



- Original Message -
From: Michael Perelman [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Sent: Thursday, August 29, 2002 12:32 PM
Subject: [PEN-L:29964] Re: Re: Varian quotes Marx


 What is amazing is that most economists are certain that Marx laid out a
 blueprint for socialism.  So Varian's comment would not appear as ignorant
 at a meeting of the American Economic Association.

 
  Yes, and later this distinguished economist writes:
 
  Other economic engineering projects have not fared so well, with the
  California electricity market being a notorious example. The famous
  economist quoted above was Karl Marx, who also had ideas about
  economic design that ended disastrously.
 
  Marx as economic designer? The things you learn reading the NYT!
 
  Doug
 

 --
 Michael Perelman
 Economics Department
 California State University
 Chico, CA 95929

 Tel. 530-898-5321
 E-Mail [EMAIL PROTECTED]





The Circle Game

2002-08-29 Thread Louis Proyect

 From The Circle Game: Shadows and Substance in the Indian Residential
School Experience in Canada by Roland Chrisjohn and Sherri Young
with Michael Maraum. Theytus Books Ltd. Penticton, B.C. 1997

EXECUTIVE SUMMARY

What if the Holocaust had never stopped?

What if no liberating armies invaded the territory stormed over by
the draconian State? No compassionate throng broke down the doors to
dungeons to free those imprisoned within? No collective outcry of
humanity arose as stories on the State's abuses were recounted? And
no Court of World Opinion seized the State's leaders and held them in
judgment as their misdeeds were chronicled? What if none of this
happened?

What if, instead, with the passage of time the World came to accept
the State's actions as the rightful and lawful policies of a
sovereign nation having to deal with creatures that were less than
fully human? And, what if, curbing some of the more glaring
malignancies of its genocidal excesses, the State increasingly became
prominent as both a resource for industrial powers and as an
industrial power in its own right? What if the State could depend
upon the discretion of other nations, engaged in their own local
outrages, to wink at its past, so that the lie told to and accepted
by other nations was one the State could tell itself and its 'real'
citizens without fear of contradiction? What if the men who conceived,
fashioned, implemented, and operated the machinery of destruction
grew old and venerable and acclaimed, hailed as 'Fathers' of their
country and men of insight and renown?

What if the Holocaust had never stopped, so that for the State's
victims, there was no vindication, no validation, no justice, but
instead the dawning realization that this was how things were going
to be? What if those who resisted were crushed, so that others, tired
of resisting, simply prayed that the 'next' adjustment to what
remained of their ways of life would be the one that, somehow, they
would be able to learn to live with? What if some learned to hate who
they were, or to deny it out of fear, while others embraced the
State's image of them, emulating as far as possible the State's
principles and accepting its judgment about their own families,
friends and neighbors? And what if others could find no option other
than to accept the slow, lingering death the State had mapped out for
them, or even to speed themselves along to their State-desired end?

What if?

Then you would have Canada's [and the U.S. and elsewhere where there
are Indigenous Peoples] treatment of the North American Aboriginal
population in general, and the Indian Residential School Experience
in particular.

And here and now we are going to prove it to you. 


transcribed by Jim Craven


Louis Proyect
www.marxmail.org




Imagine

2002-08-29 Thread Louis Proyect

Jim Farmelant's letter 
(http://www.mail-archive.com/marxism%40lists.panix.com/msg36370.html) was 
moving; he is indeed a Nee-tse-tapi-kse (that's Blackfoot for a 
mensch). His letter strongly parallels, in eloquence and substance, the 
opening of Roland Chrisjohn's The Circle Game What if... (which I will 
attach here).

According to the Musquiem Decision of the Canadian Supreme Court in 1983, 
the presumptive title of all the lands of present-day Canada is 
Aboriginal; meaning that the burden of proof for assertion of legal 
[bourgeois legal] title is on the non-aboriginals.

The is the kind of vile racism Indians deal with every single day. By the 
way, in a limited respect, the Zionist scum has it right: Palestinians are 
commonly referring to themselves as Palestindians and our most respected 
Elders, who know very little about the history and complexities of the 
Middle East, commonly refer to us as The Palestinians of Noth America.

 From The Pikunii Sun Vol 1 No. 2 Newspaper of Pikunii (Blackfoot People) 
and other interested persons. Also printed in The Eastern Door a 
newspaper of the Mohawk Nation of Kahnawake, Quebec, Canada

Imagine... by James M. Craven

There is a great deal of sensitivity to one of the most notorious of the 
many Holocausts humankind has suffered: the Nazi Holocaust against Jews, 
Gypsies and others. Movies like Schindler's List are a constant reminder of 
massive suffering that must never be forgotten and historical lessons that 
must be learned. Most believe that something like the Holocaust of the 
Nazis against Jews or Gypsies or other victims tageted by the Nazis could 
never happen here in America or in Canada.

Imagine that something like what happened to Jews in Germany happened in 
America or Canada. Imagine that Jewish children were forced to repeat 
Christian prayers and were beaten or even murdered if they spoke or prayed 
in Hebrew or Yiddish and spoke or prayed Jewish prayers. Imagine if Jewish 
children were forced to eat pork that was not only forbidden for religious 
reasons but was also rotten, insect-infested and of the lowest quality so 
that many children could be fed cheaply and very profitably.

Imagine if vulnerable and trusting Jewish children were routinely sexually 
and physically abused by clergy and when the sexual and physical abuse 
was discovered, those who reported it were beaten or murdered while those 
who committed the ugly deeds, were protected by powerful and rich churches 
and sent elsewhere to do more crimes to other Jewish children. Imagine that 
Jewish children were used for medical experiments or used to test new drugs 
or surgical procedures. Imagine if Jewish children were used as sexual 
objects for powerful pedophiles--dignitaries--when visiting the isolated 
institutions in which the Jewish children were kept away from their 
families and communities.

Imagine if Jewish children were sterilized through coercion or decption. 
Imagine if Jewish children were registered and controlled by a BJA (Bureau 
of Jewish Affairs) that had a long history of fraud, theft, abuse and 
dereliction of trust responsibilities with respect to traditional Jewish 
lands and resources. Imagine if throughout the Jewish Ghettos, corrupt and 
sell-out Jews were selected or elected through fraudulent elections to 
control other Jews in the interests of non-Jews bent on the eventual 
elimination--through murder, intermarriage, redefinition, assimilation or 
sterilization--of all Jews.

  Imagine if Jewish children were forced into special Boarding/Residential 
Schools designed to beat, torture, intimidate and brainwash the 
Jewishness out of them.

Imagine if there were football teams with names like the Kansas City 
Kikes, the San Francisco Sheenies or the Jersey City Jew Boys and at 
half-time, some caricature, of what the bigoted and ignorant consider to be 
a typical Jew, came out to do the money-grubbing tango. Imagine if Jews 
were forbidden to celebrate Jewish holidays or to wear traditional Jewish 
yamulkas or prayer shawls. Imagine if all the precedents of Nuremberg and 
International Law (Treaties) were routinely broken by non-Jews while Jews 
were expected to keep all promises and responsibilities under those laws.

You say it could not happen to Jews in America or Canada what was done in 
Nazi Germany? You say that especially after Nuremberg, and the horrors that 
were revealed there, Never Again, anywhere? With respect to Jews in 
America and Canada, perhaps all of the above and more could happen and 
perhaps not. But there is no perhaps that all of the above and much more 
was done--and is being done--in America and in Canada and elsewhere in the 
world to Indigenous Peoples.

When do Indians and First Nations Peoples get movies like Schlinder's 
List that expose the past and present of the American and Canadian 
Holocausts? When do non-Indians care about the American and Canadian 
Holocausts against Indigenous Peoples as much as many 

Re: Re: Re: Varian quotes Marx

2002-08-29 Thread Ben Day

Yeah, but who cares about accuracy when dealing, from the perspective of 
economic theory, with a minor post-Ricardian - and Ricardo himself, of 
course, the most overrated of economists (to quote a certain nameless 
someone delivering the presidential address of the AEA back in the '60s).

Ben

At 09:32 AM 8/29/2002 -0700, Michael Perelman wrote:
What is amazing is that most economists are certain that Marx laid out a
blueprint for socialism.  So Varian's comment would not appear as ignorant
at a meeting of the American Economic Association.




scientific survey on Iraq

2002-08-29 Thread Michael Perelman

I asked my class with about 35 students how many thought that Iraq was a
threat to the US.  One answered postively, saying that his cousin died in
the Gulf War.
 -- 
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]




Bechtel, Bolivia and Water

2002-08-29 Thread pms



   Home | Newswire | About Us | Donate | Sign-Up
 Thursday, August 29, 2002
Home  Progressive Community  NewsWire  For Immediate Release




Share This Article With Your Friends
FOR IMMEDIATE RELEASE
AUGUST 29, 2002
1:06 PM
 CONTACT:  Earthjustice
Martin Wagner, Earthjustice, Oakland, 510 550-6714, email:
[EMAIL PROTECTED] Washington, DC: Soren Ambrose, 202-285-5836, email:
[EMAIL PROTECTED] Stephen Porter, CIEL, 202-785-8700 Cochabamba, Boliva: Jim
Shultz, The Democracy Center: tel: 011 591 4 429 0725, cell:
001-591-707-43631, email: [EMAIL PROTECTED]



Three Hundred Citizen Groups Call on Secret World Bank Trade Court to Open
Up Bechtel Case Against Bolivia: Case called a Preview of the Free Trade of
the Americas

WASHINGTON - August 29 - More than three hundred citizens groups from 41
countries presented a petition today to a World Bank-affiliated court,
demanding that it allow public participation in a controversial case in
which Bechtel Corporation is suing Bolivia for $25 million. (Petition and
support letter available at:
http://www.earthjustice.org/news/display.html?ID=435)

Bechtel is suing South America's poorest country for a portion of the
profits it wasn't able to earn after a public uprising in response to
Bechtel's water rate hikes forced the company to depart from the country in
April 2000. Bechtel's legal action is being heard by the International
Centre for the Settlement of Investment Disputes (ICSID), an international
tribunal housed at the World Bank that holds all of its meetings in secret.

Bechtel is demanding $25 million dollars from some of the poorest families
in the world, said Oscar Olivera, a leader of the coalition of Bolivian
peasants, workers and others that formed in opposition to Bechtel. The fact
that a World Bank court is preparing to hear this case behind closed doors,
without any public scrutiny or participation, is a clear example of how
global economic rules are being rigged to benefit large corporations at the
expense of everyone else.

A wide range of groups joined in the demand to open up the process. They
include trade union organizations (e.g., the 2.5 million-member Canadian
Labour Congress and Public Services International, which represents services
sector workers around the world); environmental groups (e.g., Friends of the
Earth); consumer organizations (e.g., consumers associations of Canada,
Japan and Zambia and U.S.-based Public Citizen); research groups (e.g.,
Institute for Policy Studies in Washington, Transnational Institute in
Amsterdam, and the Integrated Social Development Centre in Accra); and
numerous religious institutions (e.g., Maryknoll Fathers and Brothers in
Peru and the American Friends Service Committee); as well as noted authors
Naomi Klein, Maude Barlow and Vandana Shiva.

The groups called on the panel to make all of the documents and meetings in
the case public, to travel to Bolivia to receive public testimony, and to
allow Bolivian civic leaders to be an equal party to the case.

The citizen's letter will be accompanied by a formal petition to
participate by Olivera and other Bolivian civic leaders to the ICSID
tribunal hearing the case. The tribunal is comprised of one member appointed
by Bechtel, one appointed by the Bolivian government and a third, its
president, appointed directly by World Bank President James Wolfensohn. The
ICSID panel is scheduled to hold its first hearing sometime in early
September (though Bank officials say they are barred from disclosing exactly
when or where the hearing will take place).

The legal team representing the Bolivian petitioners includes Oakland,
CA-based Earthjustice and the Washington, DC-based Center for International
Environmental Law, both of which have been involved in attempts to intervene
in similar investor-state lawsuits filed under the North American Free Trade
Agreement.

AFTERMATH OF A REVOLT AGAINST WATER PRICE HIKES

In the late 1990s the World Bank forced Bolivia to privatize the public
water system of its third-largest city, Cochabamba, by threatening to
withhold debt relief and other development assistance. In 1999, in a process
with just one bidder, Bechtel, the California-based engineering giant, was
granted a 40-year lease to take over Cochabamba's water, through a
subsidiary the corporation formed for just that purpose (Aguas del
Tunari).

Within weeks of taking over the water system, Bechtel imposed huge rate
hikes on local water users. Families living on the local minimum wage of $60
per month were given bills equal to as much as 25 percent of their monthly
income. The rate hikes sparked massive citywide protests that the Bolivian
government sought to end by declaring a state of martial law and the
deployment of thousands of soldiers and police. More than a hundred people
were injured and one 17-year-old boy was killed. In April 2000, as
anti-Bechtel protests continued to grow, the company's managers abandoned
the project.

Bechtel filed the legal action against 

US: Housing Market

2002-08-29 Thread Sabri Oncu

US housing executives offload stock
By Peronet Despeignes in Washington

Financial Times, August 28 2002

Executives across the US home-building industry have been selling
shares in their companies at a record pace this year, suggesting
they believe the country's housing market has peaked.

Data compiled for the Financial Times show that corporate
officers and board members in publicly traded US building
companies sold a record $258m-worth of shares more than they
bought in the second quarter.

It is the largest net sale of stock in the industry in quarterly
records going back to 1996, and was done either by exercising
options or directly cashing in stock grants. In many cases,
corporate officers have sold more than 50 per cent of their
holdings over the past year.

This is an anomaly, said Lon Gerber, a research director at
Thomson Financial, the information services group, adding that in
many industries such selling had fallen.

The selling went on while home sales, home values and builders'
stock prices were surging. In addition, most stock analysts were
maintaining buy recommendations and economists were debating
whether the industry was experiencing a bubble effect.

Thomson Financial and The Washington Service, a consulting firm
prepared the figures from corporate filings to the Securities and
Exchange Commission. The data show that of the 16 homebuilders
with the largest market capitalisation, seven had reduced their
executive shareholdings by the largest amount seen in individual
records going back two decades.

Executives at another three companies engaged in share selling
well above their average in the last 30 days, according to
Bernard Fulk, a senior analyst with The Washington Service.

Debate has intensified in recent months about whether the housing
market, a mainstay of growth for the US economy in the past year,
is a bubble that will gradually deflate or abruptly pop.

Policymakers such as Alan Greenspan, Federal Reserve chairman,
have dismissed the speculation, saying home values are supported
by low mortgage rates and land shortages.

Some analysts, however, fear home values may be increasingly
fuelled by excess credit, a subsequent deterioration in lending
standards and unsustainable expectations among prospective home
buyers for more double-digit percentage gains. In some
metropolitan areas, home prices have risen by more than 20 per
cent over the past year.

David Seiders, chief economist for the National Association of
Home Builders, said the group expected housing numbers to top
out sort of right around now - housing isn't going to be the big
engine of growth forever - but we don't expect them to recede
much.

Rise in the value of the average home by
metropolitan area (per cent change from
2001-Q2 to 2002-Q2)

Nassau-Suffolk,NY   29.6
Bergen-Passaic,NJ   24.7
New York-North NJ-Long Island,NY22.3
San Diego,CA21.3
Monmouth-Ocean,NJ   21.0
Washington,DC/MD/VA 20.8
Providence,RI   20.7
Los Angeles-Long Beach,CA   18.0
Miami-Hialeah,FL17.0
Anaheim-Santa Ana,CA16.6

Source: National Association of Realtors

There are various explanations for individual sales of stock,
including routine profit-taking.

However, Mr Gerber called the industry-wide trend disconcerting,
adding that the insider signal is generally one to two quarters
ahead of turns in the stock price. He speculated that executives
may be worried about the risk of a slowdown, if not a reversal,
and were not waiting.

Homebuilder share prices have surged over the past year,
outperforming most of the stock market, as mortgage rates have
slid towards 30-year lows. But they have been volatile over the
past few weeks, declining sharply in June and July before
recouping some of their losses in August.

The great majority of the homebuilder stock analysts monitored by
First Call analyst Chuck Hill have maintained strong buy, buy
or hold recommendations. Only one, Barbara Allen of Arnhold and
S. Bleichroeder, has recommended sell.

She told the FT that the bubble speculation was a little bit
stretched, but it does seem to me there's a little too much
optimism, and that Mr Greenspan is doing us a disservice with
some of the statements he's been making about homebuying.




Report sends US builder stocks lower
By Peronet Despeignes in Washington
Financial Times, August 29 2002

Stock prices for US homebuilders eased on Thursday following a
report by the FT of record selling of company stock by
homebuilding executives.

Shares in Centex, KB Homes, DR Horton, Pulte Homes and MDC
Holdings fell more than 2 per cent. However, trading was thin
ahead of the Labor Day weekend.

The net value and number of shares sold by homebuilder officers
surged to a record pace this year.

The FT reported on