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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Lee who wrote (3470)	7/12/2002 9:19:49 AM
From: Robert Douglas	Read Replies (1) of 3536

As I look over the data I see: I see just about the same thing you do Lee. The consumer will tell the tale on whether we dip again or not. My gut, like yours', says no. You hear a lot about a "tapped out" consumer, but the work I have done looking at income vs. spending shows that really isn't so. Future spending will be determined by job creation and I believe that will slowly pick up over the next year. Consequently, I see a slow, building recovery that has a good foundation - much like the one we started in the early nineties. How the recovery begins, however, doesn't really matter as much as how long it is and how widespread it is. Here I see very good news as I believe this period of growth will be worldwide and extremely powerful. Robert

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