Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Mark Adams who wrote (107046)	6/8/2001 12:27:50 AM
From: pater tenebrarum	Read Replies (3) of 436258

and here is Bob Bronson's somewhat simpler, but also quite credible explanation: <<I stumbled on this also, Joe, and simply mentally wrote it off as another Biderman misstatement since, as you know, the cause of negative savings is consumption exceeding spending, and selling stock is not consumption. He's probably confusing the idea put forth by Dean Maki (whom you may recall I have communicated extensively about auto leases not being included in the Household Debt Service Burden index for which he was responsible when he was on the Fed's staff) that the proceeds from the sale of stock have been typically used for <increased> consumption explaining the fact that the upper quintile of income earners have caused the national income-minus-consumption savings rate to decline and go negative. Biderman often displays his lack of understanding the details of certain matters even though he, and/or his staff, appear to be carefully tracking them. Bob Bronson Bronson Capital Markets Research>> iow, don't believe everything you read...-bg-

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