The Justa and Lars Honors Bob Brinker Investment Club Thread Message Board

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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread

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Nov 4 4:00 PM EST

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To: Wally Mastroly who wrote (284)	7/14/2000 5:27:35 PM
From: Justa Werkenstiff	Read Replies (2) of 10065

Wally: I think there is a strong chance of a reacceleration of spending and growth in here. Consumers are not slowing all that much IMO. They are 2/3 of this economic engine. Wealth effect is back in play as of today!! Consumers are taking on more debt to fuel the expansion. See consumer credit report this past week. Retail sales are not going down. They seem to be reversing. See upward revisions of last month and this month's report issued today. Consumer confidence is very strong. The University of Michigan's index of consumer confidence rose in July to 108 from June's 106.4 reading. July's reading was close to the record of 112 set in January. So oil prices get jacked up and consumers don't care? They continue to buy gas hogs and travel more even in the face of higher fuel costs. There has been some slowing in housing but mortgage rates are steady now if not spiking lower as everyone seems to be expecting a soft landing. Which brings us back to Justa's number one economic law -- the more people there are that believe in a soft landing, the less likely it is to happen.

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