Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (28560)	2/8/2003 11:41:46 PM
From: RealMuLan	Read Replies (2) of 74559

>>Now I see that they will be working until they drop, singing the good old refrain as the 7 Dwarves march off to the mine "I owe, I owe, it's off to work we go...".<< Yeah, this seems to be the picture for the majority of the baby boomers. Social Security would not likely to be there when they retire (or at least not enough to meet their ends meet), and stock market will have a hard time to go back to the all time high in 2000 for the next 15-20 years, and even those who have pension plans would likely have to face reduced benefits by then. >>Let's hope China also gets a high level of debt. India needs a lot of debt too. << Maurice, this is Very very difficult, if not impossible. This cultural thing is die hard. Chinese just do not want to borrow. Even if the Chinese who have lived in the US for the last 10-15 years, most people I know of bought their houses at 20+% down payment, and quite a few of them are now switching to 15 Years of mortgage from 30 years because of the low interest rate.

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