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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: mishedlo who wrote (49853)4/11/2002 2:12:00 AM
From: LTK007   of 99280
 
(This post is NOT! directed at you Mish, it is a general ramble set off by FED fiddly dee:)--i don't want to get in to all this again. I am tired of presenting the arguments. But consumers are far far more stressed out than this Fed Mumbo would indicate.
Personal bankruptcies continue at an alarming alltime high pace, with no end in site.
Prime deficit is at 108%.
Don't they factor in how many people are paying at Credit Card rates, that are much higher than the prime rate and it is the credit card companies that are pocketing the difference not the consumer. The low interest rates have been a bonanza for credit companies.
In a CBS poll why did 41% of householders say they feel were
extremely worried or significantly worried about their ability to service their debt???? hmmm how could that be??
Why does Greenspan say over and over the recovery must be accomplished by INCREASED Cap-ex spending and DECREASED consumer spending? (duh, why does he say these things let's not put that in the press release on his speech to the bankers, it might make americans think)
Why does Greenspan say the consumer debt load versus the rate they are spending is a formula for disaster????
I will go on record that all those saying the consumer is a-ok, are being flim-flammed, period.
Plus i have no intention of digging out my old posts giving the sources because i have come to the point i do not CARE if people want to think otherwise, it's their money, it is NOT my problem.
BTW the new issue of Bloomberg's Magazine is a CLASSIC issue how to SELL SELL SELL the IDEA to BUY BUY BUY stocks
NOW.
It is so well done i submit as a document in how The Street is the master huckterism and efficient propaganda.
The cover is simply a huge quote "I'M BUYING AGAIN" with this under commenr WHY INVESTORS ARE RETURNING TO STOCKS
and when you get to the article you greeted by a full page picture of a young mom and dad leaning over the crib of their new born child and the quote "I'M BUYING AGAIN!" beside the photo.
And the in large print the article starts "OVERCOMING THE CAUTION OF LAST YEAR, REAL PEOPLE WITH REAL GOALS--- LIKE YOURS----ARE JUMPING BACK INTO THE FRAY".
From that point on it GETS worse,LOL!, incredible hucksterism.
And tells me all i want to know about " the dumbing of america".
Paxmax
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