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Strategies & Market Trends : The coming US dollar crisis
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To: TH who wrote (11165)9/17/2008 2:56:28 PM
From: LTK0072 Recommendations  Read Replies (1) of 71463
 
Things changed since you asked that question last night--no?:)
In that post i say the KNOCK OUT PUNCH is still ahead, the consumer will run from spendthrift to frugality. That will be the last phase of this debacle---that phase will be years i suspect(History says, on average 10 years).This will play out exactly as in Japan, when their wildly spendthrift consumers reversed to cocooning and frugality.
Those that rest hopes of markets recovering on the american public refusing to cease being spendthrift don't know history imHo. Human Behavior everywhere is the same , switching from one extreme to another at some moment where fear of survival hits them between the eyes.
We are seeing it already in that credit cards are being used more and more for just essentials. Max
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