Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 193.23

-2.9%

Nov 11 3:59 PM EST

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To: Canuck Dave who wrote (45736)	8/10/2001 7:02:09 PM
From: ColleenB	Read Replies (1) of 56532

The US consumer is about tapped out, and no amount of interest rate cuts will change that. Whether you're paying 19% or 14% on a credit card debt, if you don't have a job, you can't pay it. You also can't put more money into mutual funds or the stock market. you can fuel the fear even more by realizing that few baby boomers are not adding much to their 401K programs and are living it high on the hog by living with a day to day mentality with instant rewards. Credit cards are not getting paid off and first time home buyers are starting out in homes in the 200K price range and at 95% loans to boot. We live in an age of consumerism and nobody wants to wait and deny themselves as that's not "fun". And the mentality for this age bracket is that to deny yourself instant gratification of that new car, new stereo, vacation etc, is to admit failure and this is not what boomers are taught to project or accept. So, it becomes a Catch 22 proposition and tomorrow is not worried about.

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