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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Jorj X Mckie who wrote (26552)12/27/2002 12:03:34 PM
From: LTK007  Read Replies (1) of 74559
 
Max vents-rant on Max:)
The steady leakage of outflow from Mutual Funds is a bad omen.
The house refinancing binge i feel is getting tapped out.
Keynes suggested once 'to pay people to dig holes and them fill then up again'.
We are in the end getting to the point where we need pump money into the consumers with more tax-cuts(at a time when we are diving into deficit in order to "save" the world, this is a formula i suggest that might be a formula for creating a Black Hole).
What i feel people are not getting, it just doesn't penetrate; consumer spending is NOT a given, that is fact.
The concept that consumers eternally will spend and will not start thinking otherwise has no basis in fact.
It is merely a MINDSET of this generation--i have heard numerous talkin head economists say regards the consumer being under pressure 'o that is not a problem, consumers will ALWAYS just keep spending'. I see a ship of fools speaking in brainwashed ignorance.
This present generation has flunked economics 101 miserably and as a result the once snowball on the mountaintop is getting to greater and greater size.
i can see it in my mind, getting larger and larger.
And the source of all this is a country that believed the market was going to be an eternal "Sugar Daddy", it was an a stupid conception from the start, but it SOUNDED good and that was all that was required.
Hell they got to live the most blessed 20 years in human history, now it is payback for forgetting all the rules. Max
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