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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

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Nov 21 4:00 PM EST

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To: bobby beara who wrote (68056)	1/30/2001 10:45:42 PM
From: Joan Osland Graffius	Read Replies (1) of 99985

bobby, >> are you in the camp that we made a secular bull market peak in 2000 I am in the camp that thinks debt needs to be serviced. Consumers are in trouble at the moment. Most are experiencing an increase in costs from utilities, operation of automobiles and food. I know they are not getting this kind of increases in their salaries. At our house the increases are running more than 10% and I know these kids do not have 10% flexibility in their budgets. Look at the public companies debt and the cost at the bottom line to service the debt. Looks like profit depression to me. I do expect tax receipts at all levels of government to fall off a cliff, just like the economic slow down that we are experiencing. I sure would like someone to show me where my thoughts are faulty, but if my view of the world is correct it will be a while before we see another bull market in the US. Now I suspect the world can live without the US, just like the world economies were not all affected by Japans bubble bursting. I wish I knew what economies are going to do just fine without the US consumer. Joan

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