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Strategies & Market Trends : Galapagos Islands
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To: Perry Ganz who wrote (25952)2/9/2003 2:01:03 PM
From: mishedlo  Read Replies (1) of 57110
 
One glimmer of hope that I saw last week was that consumer debt retracted (very volatile number) the last couple of months and savings increased.

That might be a good sign for the long haul but it is a horrid sign for the intermediate term (at least a year).
What i means is that the consumer has stopped spending (combined with MUFU outflows) suggests a consumer that is raising cash or paying off bills.

Since the consumer is 2/3 of the economy, consumers retrenching is not a good short to intermediate thing and probably has Greenspan scared S*less. Consumer spending slackening with no demand for tech is Greenspans worst nightmare.

M
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