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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Mark Adams who wrote (207365)12/12/2002 1:42:06 PM
From: Earlie  Read Replies (2) of 436258
 
Mark:

I noted earlier that savings were up. This is very negative for the economy short term (albeit very good over the long term). In the short term, the consumer is doing exactly what one would expect, given his "dire straits" debt situation,..... he is pulling in his horns. Since he is the only buyer of a massive excess of global goods, should he continue this path, we head into deep recession. I do not know how he can do otherwise. The author of that piece missed this key latter point.

Best, Earlie
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