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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: techreports who wrote (49358)12/6/2001 11:57:38 AM
From: Seeker of Truth  Read Replies (1) of 54805
 
"NOT MUCH BEING DONE TO HELP THE CONSUMER." No doubt you have seen the recent information that 70% of the credit cards out there are not fully paid off at the end of each month. That's in the U.S. It sounds pretty bad to me. Maybe I'm naive. A banker once tried to make me understand that in principle these days cars, big appliances, even houses are essentially rented to those who borrow even though on paper the ownership belongs to the buyer. That means that 70% of the population are renters and 30% are lenders. The 30% get richer and richer in comparison to the 70%. The 70% number sounds scary but maybe the situation is stable. If Mr. X goes bankrupt his house is sold by the bank to Mr. Y. Mr. X moves into a shabby apartment somewhere. If Mr. Y is also a borrower like X, then in turn he will hand over the house to Z, when he can no longer meet the payments. Will technology enable people to live within their means? The reason why this topic is not off topic is because if the economy is basically sick then we want to avoid stocks, in general but if the economy is basically stable then by all means invest when the price is right and the purchased object is a gorilla.
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