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Politics : Impeach George W. Bush
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To: TigerPaw who wrote (5830)8/8/2001 11:16:19 PM
From: Mephisto  Read Replies (1) of 93284
 
Thanks for the report on the economy. It looks grim. Andy Grove was on Paul Kangas show tonight and
he said he couldn't predict when there might be a recovery in the pc business..

I think the situation looks grim. I don't see how the consumer can keep up with current rate of spending
considering the debt that they already carry.

Also, I heard on tv the other night that people have borrowed heavily against the equity in their homes.
They bet that the prices of their homes will continue to increase. No such thing as a sure bet, but,
in my neighborhood, there has been extensive remodeling. I don't believe it can continue at this pace,
but according to a fellow who has to install a couple of new windows for me, business this summer has
been very good but it has not been as hectic as last summer.

Good news that energy prices drop.

Thanks again for the beige book Report.

M........
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