Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (19748)	10/3/2002 2:15:05 AM
From: nspolar	Read Replies (2) of 36161

iso, and here I thought you weren't going to answer! Good show. As I was reading I also thought you might have left out a key point. But then: [Sharply reduced consumer spending yet to even begin.] You didn't really (miss it). Mauldin also made the point. Not to go back and look but I believe it was something like - What if consumers suddenly decide to save 5% more? ... ya well what if? It usually happens during these cycles. The drop in consumer spending that will surely come will be for a least a couple of reasons. One of course is financial stress, but the other is they will decide it is time to spend less and save more. A little recent anecdotal sampling around the office indicates to me the save more attitude is very close, if not upon us. According to some less than stellar sources Greenie hasn't been that accomadative of late, but I don't follow it every day. If he hasn't why? The only thing that makes sense to me is they know the end result, and they want the market to drop further here, so the plunge that will surely come later will be less severe, from a pure number perspective.

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