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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: clochard who wrote (6290)	2/2/2000 6:36:00 PM
From: pater tenebrarum	Respond to of 42523

i agree that the debt mountain could lead to a sudden implosion of the bubble economy. household debt relative to disposable income is at historic extremes....the servicing of this debt load is certain to begin to bite soon. that's why the recession when it begins will catch every single dismal scientist by surprise...it'll be like a sudden fall off a cliff, not unlike '29/'30. everybody's looking the wrong way imo...they all see the economy chugging along strongly. and yet, it depends on ever increasing credit on top of the existing debt mountain. we're close to the limit...and i agree with you, the stock market will be the place where the sudden change in fortunes will be violently pre-announced. i sure wish that would happen before March expiration though...<ggg>