MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 7 4:00 PM EST

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To: dennis michael patterson who wrote (43072)	3/15/2000 9:22:00 AM
From: bobby beara	Read Replies (3) of 99985

Dennis, you don't need data for this, just look in your mailbox everyday and tell me how many offers you get for an instant credit card, instant leasing, instant unsecured credit line. and compare this to 10 years ago. The banks and credit agencies are doing the same thing the dot.coms are, panic buying market share and paying little attention to credit quality as the good times roll. Your government is even getting in the act of financial recklessness by allowing people to charge their tax bill on credit cards, which is up 600% this year over last year. As you've noticed average hourly earnings have been flat for years, your average working joe is supplementing their income and ability to keep the economy humming with credit. This is all fine and dandy with 4% unemployment, but when the worm turns (and it will the business cycle hasn't been repealed, despite all this new economy bs), there will be a lot of debt default. Do you understand what an inverted yield curve means and the track record is pretty accurate. b

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