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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 677.48

+0.3%

Nov 5 4:00 PM EST

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To: KevinMark who wrote (64511)	12/17/2000 9:34:06 PM
From: Mike M	Read Replies (1) of 99985

Oh it's happening, it's just not being talked about. Banc of America already stated they have to write off some 8 billion in bad loans already. I think it get's A LOT worse before it get's better. Agree that it is happening here. My point is that the Japanese circumstances were different. They tried to sweep it under the mat by throwing more money to bankrupt businesses to salvage the unsalvageable... I suspect that one of the differences is that we have a tendency to quickly address losses. There are plenty of other structural differences as well. Eventually, I think something similar will promulgate our downfall, but not yet. I expect the FED to save the day in the nick of time. Agree that there is likely more stock downside early next year. Agree that a recession is pretty much a given. But I don't see the Great Depression like Japan; at least not yet. I'm counting on the "Boomers", of which I am one, to spend us out of it for a few more years.

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