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                 BARRON'S                                                                   September 20, 2004

MARKET      WATCH

A Sampling of Advisory Opinion

Press Clipping

               Benson's Economic & Market Trends

                "Complacency and the Rain Dance for Money"

Sept. 16    The Federal Reserve has used asset bubbles in stocks, bonds and housing to facilitate the continued household spending of borrowed money.  This has created a false sense of wealth and has kept the economy rolling with no savings.

What is becoming crystal clear is that if the U.S. bond and stock markets suddenly re-priced to fair value, the world would witness a crash in stocks, bonds, housing prices and the dollar.  This inevitable re-pricing, caused by unsustainable Treasury and trade deficits, will be fiercely and politically delayed, at all costs, until after the November election.  Also the extent to which the Treasury and Fed can use legal but undisclosed exchange-stabilization policies is not widely understood by financial markets.              - RICHARD BENSON