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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: chic_hearne who wrote (44599)12/6/2000 3:27:55 PM
From: NOW  Read Replies (2) of 436258
 
"During the credit-related bank crisis we had from 1991 to 1993 in Sweden, consumers were very quick to change their habits: From a negative savings ratio before the crisis, we got a positive savings ratio at 8% of disposable income only 1 1/2 years later. That changed propensity to save totally killed consumption, and we got a depression lasting several years. I foresee something similar in the U.S. during next year as a response to a credit related crisis."

thestreet.com
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