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/