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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Zeev Hed who wrote (201910)11/3/2002 6:39:29 PM
From: mishedlo  Read Replies (1) of 436258
 
I fear is that he stays here at these rates too long and as early as late next year we get a relapse of this mild economic recovery with strapped consumers going on strike and particularly problematic Asia and Europe causing economic slowdown which lasts a little more than 3 quarters..

You think with that plunge in consumer confidence, autos, housing starts, bankruptcies, credit card delinquencies rising, etc that the consumers are going to keep going for another year?

I think the consumer retrenchment just began and will get worse for another 6 months, longer if employment numbers get any uglier. I look for a very anemic Christmas.

Why do you think the consumer can keep going?

I thought the basis of your rate hike was the consumer was done so we better give businessess an incentive to spend before everything goes to hell all at once.

I see I am intrepretation challenged now. ggg
But please explain how you think the consumer is going to hold up for another year. I do not believe it.

M
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