Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: MeDroogies who wrote (5551)	7/4/2001 12:21:02 PM
From: Dave	Read Replies (3) of 74559

Typically, just as people are saying that worst is yet to come, the worst has already come. This may be atypical. But so far, it doesn't appear it is. You seem to be implying that most investors think the worst is yet to come. I don't think that is the case. Sure, in SI threads like "The Coming Financial Collapse of 2001," there may be some pessimism. But outside of the occasional bear's den, the Man on the Street is as confident as ever that things are looking up, that the Fed Maestro has his magic finger on the button, that any apparently higher prices are not inflation because they're not "core" prices, that it's prudent to take out huge credit debt and refinance the house at 125% of real-estate-bubble appraisal value. I don't think you can summarize all of this as mass pessimism. Keep your crash helmets fastened! Dave

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