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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (50719)1/22/2006 3:49:07 PM
From: mishedlo  Read Replies (1) of 110194
 
For Mish's theory to play out nondiscretionary expenses would have to go down. These are the costs of goods and services he needs in his basic daily survival. Many are provided directly or indirectly by either the government or monopoly. Others would just shut down if the can't make a profit.. Most outside of clothing, some household items and basic electronic gadgets are not dependent at all on globalization or China..

Nondicretionary spending will certainly drop off:
restuarants
movies
popcorn at movies even for thos that go to movies

In response, I expect prices to actually drop.
Perhaps not by much, perhaps by a lot.

I also expect stuff like the prices for haircuts to drop and/or for people to just get them less often. Perhaps both.

Mish
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