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Strategies & Market Trends : Drillbits & Bottlerockets
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To: Jorj X Mckie who wrote (10588)5/10/2001 2:23:09 PM
From: Augustus Gloop  Read Replies (2) of 15481
 
Fear is good. But the "this time will be different" attitude is BAD! Yeah the fed is cutting rates and yeah it should be bullish for stocks down the road. But for now I think we all must keep our heads in the game. I think I heard that credit card debt is like 15k for every man, woman and child in the U.S. Furthermore people are spending 101% of their income which doesn't even factor in the daily rise in prices at the pumps. It is my opinion that rates could be zero right now and the fact is the consumer doesn't have the financial strength to prop us up. The equity bubble was hiding some ugly stats that are now biting us in the @$$. So.....is it time to buy? Maybe long term but on the shorter side I think we have some huge bumps in the road.
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