Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: ild who wrote (85410)	1/29/2001 10:33:50 AM
From: Terry D	Read Replies (2) of 95453

Did you see this beauty today from Roach? The Chairman depicted those risks as hinging on the potential for a "breach of confidence" at some point in the next three months. It’s hard to know exactly what he has in mind with that reference -- especially since consumer confidence has just recorded its third sharpest two months of back-to-back declines in 50 years. But I suspect his fears are very much like mine: Should the loss of confidence persist, a Japanese-style "L-shaped" downturn could well ensue -- driven by the potentially lethal interplay between a capital spending collapse and wealth-induced capitulation of the American consumer. L-shaped, is that a 90 degree upturn? Nope - didn't think so. From under my desk - t d

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