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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (16525)	3/21/2003 1:48:59 PM
From: yard_man	Read Replies (1) of 19219

I don't mean to irritate you, JT. Just discuss your reasoning -- I hope I haven't been offensive. Why not discuss? >>People have refinanced their homes 3 times in the last year. They have more disposable income. They are taking out second mortgages at 5 and 6% to consolidate credit cards at 18 - 20%. I refuse to underestimate the optimism of the American consumer and entrepreneurialship of the movers and shakers in this world << You assume consumers are going to increase debt to fuel more consumption and that this will stimulate the economy?? IS that the gist of it?? I've only ref'id once -- was too slow last week or I'd have done it again, but only to reduce the term -- like the first time. I'm probably an abberation. If re-flation -- inflation works and debt interest payments can stay really low -- I can see that folks would be willing to consume even more at the expense of their balance sheet and long term financial health, but how does this support growth going forward -- just seems like one more dose of drugs for a junkie to me -- what specifically, am I missing??

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