The Big Picture - Economics and Investing Message Board

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Pastimes : The Big Picture - Economics and Investing

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To: Serge Collins who wrote (559)	7/29/1998 9:19:00 AM
From: Arik T.G.	Read Replies (1) of 686

Good call, Serge, but I believe it has better been posted on the Kahuna or Crash threads. The Big Picture is turning uglier each day. Consumer confidence turned back from 30 yr high, IMO it shall not see that high again in decades. Maybe our grandchildren would be THAT confident. The consumer is in debt up to his/her neck, SEA and Russia breaking down, Inventories are building, and y2k is 500 days ahead. Yet confidence is at record levels. Why? Because they feel their job is secure, and their portfolio of equities growing at 35%/yr gives them a feeling of wealth. When this market turns (and I'm supportive of the opinion it is already past the cliff's edge), the consequences will shatter the consumer confidence, and we would go through a big depression. ATG

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