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Gold/Mining/Energy : An obscure ZIM in Africa traded Down Under
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To: TobagoJack who wrote (332)10/12/2002 5:24:34 PM
From: Snowshoe  Read Replies (1) of 867
 
In other words, while refis help in a lower interest rate climate, those dependent on interest income -- especially retirees -- are hurt. And to the extent that the consumer sector has more interest income than debt service, it may simply be wrong to conclude that surging refis are always accompanied by booming consumption.

Jay,

This is exactly what I've griped about several times on the BBR thread! The US rate cuts seem excessive to me, and I fear that Greenspan will take us down the road of Japan.

Snow
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