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Strategies & Market Trends : Waiting for the big Kahuna

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To: Skeet Shipman who wrote (53319)	7/23/2001 12:53:00 AM
From: Gersh Avery	Read Replies (1) of 94695

>yet empirical evidence documented elsewhere suggests just the opposite, namely that wealth does all of the adjusting and consumption and labor income do virtually none of it.< BULL Compare Japan of fifteen years ago to today. Or the US during the early 1930's to the late 1020's. The fact that these folks can make this claim, seems to indicate that the change in consumption due to change in wealth takes several quarters to impact. Or that there is some sort of threshold of wealth destruction that has to take place before consumption adjusts. Either way, the above is pure BS ...

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