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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: KyrosL who wrote (101754)5/20/2001 7:21:18 AM
From: Earlie  Read Replies (1) of 436258
 
K:

Last fall, did anybody think we would witness over a million lay-offs announced before the summer of 2001? And it is well known that these things tend to experience acceleration (much like the effect of gravity).

Don't get me wrong..... I sure hope I am a loser on this bet, but once a deflationary spiral gets some critical mass, it is very difficult to stop the unwinding of the excesses.

My main reason for believing that things can unwind very quickly relates to the impact of lay-offs on consumer spending as well as the staggering levels of both consumer and corporate debt. There is no wiggle room in the system.

Best, Earlie
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