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Strategies & Market Trends : Value Investing

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To: Michael Burry who started this subject	7/26/2002 10:49:08 PM
From: TimbaBear	Read Replies (1) of 78644

Does anybody think the new bankruptcy legislation has a bad side? I haven't read the new law, but the gist of it that I get is that, across the board, discharge of debts will be very hard to get accomplished. Additionally, a minimum of $100/month will have to be paid for a minimum of 5 years. The concerns I have center around implementing any kind of tougher bankruptcy law in the middle of all the market chaos that exists. The major strength we have economically is the consumer, why would we encourage him to button his back pocket? I hear a figure of about $400/person as the added cost because of people filing bankruptcies. What I don't hear is what the new figure would be...maybe $350/person? But what would be the cost per person if the economy shrivels up like it did in Japan? If the consumer slows down, then prices will fall as enticements to get the consumer increase. Isn't that deflation? And isn't one of the nasties about deflation that people delay major purchases even more because they know the price will be lower if they wait? Am I seeing beasties here where none exist? Timba

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