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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: TheStockFairy who wrote (174065)6/20/2002 11:46:40 AM
From: reaper  Read Replies (4) of 436258
 
<<it seems counter-intuitive that individuals would make large purchases when the economy is crumbling. >>

not really, especially when you consider that you don't have to PAY for anything right now. and all the talking heads say everything will be fine in the FUTURE, so you'll deal with the payments then.

for example, you can buy a car with no payments for a year. or buy a new home entertainment system at Circuit City on credit. or you can get a home equity line of credit of $100k and only pay 4 1/2%, and you only pay the interest, none of the principal.

as long as people think that the future is so bright, they will keep borrowing money to spend and assume they'll make it up later.

Cheers
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