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Politics : Formerly About Applied Materials

AMAT 260.22

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Dec 23 3:59 PM EST

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To: orkrious who wrote (60925)	2/25/2002 3:37:19 PM
From: Katherine Derbyshire	Read Replies (3) of 70976

>>In case you haven't noticed, the society at large is experiencing nothing like the Great Depression. And it likely won't. But it's going to get much worse than it is. Wait until the overleveraged consumers begin to cut back.<< I think they already have. I think credit card purchases dropped sharply in the fourth quarter (one of the reasons why Christmas was lousy for the retailers), and the savings rate edged up. >>The economic recovery is at hand No it's not. Things haven't begun to get bad.<< Both unemployment statistics and anecdotal evidence from a variety of sources suggest that hiring is picking up. Absent external shocks, more hiring will translate to more disposable income, and therefore more purchasing by consumers. What evidence are you seeing that things are still deteriorating? Katherine

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