Bobby and ALL, just a little comment that caught my attention last night:
TOKYO (AP) Of the 1,549 companies that replied to a survey conducted by the Tokyo Stock Exchange, 1,258, or 81.2 per cent, say they are still trying to reprogram their computer systems to protect themselves from the glitch, known as the Y2K problem No quick recovery here.
I just got home tonight and discovered that there were 74 unread postings here. Come on guys and gals, go to work or get jobs (unemployment is still low).
Some postings here, and many news stories, talk about strong consumer demand in USA. None mention what might happen to this demand if consumers get spooked (or have fewer $ to spend when the market tanks). I may be repeating something I posted last night, but I believe it requires emphasis. This demand is fickle. Recent statistics have shown US savings rates to be extremely low.
Don't believe politically motivated statements made by government employed economists. In fact, you can do your own simple survey. This weekend, ask the people at work, at the bar, at your church, etc. how they feel, and whether they are feeling hesitant about spending, particularly on big ticket items. I've been doing that all this week, and see a definite change in attitude. I think consumer confidence is down. Let this thread know what you discover.
FWIW, the Canadian TSE became an official bear market on Monday, off its' April highs.
Enjoy the weekend and remember: It's just money, so many things are more important.
-Gofer |
