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To: UnBelievable who wrote (35428)	11/8/2000 10:32:23 PM
From: chic_hearne	Read Replies (3) \| Respond to of 436258

UnB, Great post. Baby Boomers particularly will need to balance their consumption/saving behavior to offset the expected value of the assets they thought they would be able to depend on during their retirement. And even if people and companies want to take on additional debt, lenders will be unwilling to extend such credit because of the risk of default which over extended borrowers present. I suspect many boomers are going to be stuck with fat mortgages on properties in which the amount owed to the bank will be more than the present value of the property, after the real estate bubble goes. Think of this in places like Silicon Valley or New York where things could easily get halved. Also look at the deals given to first time home buyers. Only 10% or less down or refinancing up to the full value, that's a recipe for disaster when real estate tanks. On top of that, many of them will find they were too aggressive and therefore have experienced more tough love than the average person and don't nearly have the retirement money set away compared to what they had recently expected. This combination is going to effect a ton of people and put an absolute crunch on spending. But it will be different, and probably quite a few people will be very grumpy until they get used to the idea. And it is going to take a whole lot longer than folks will believe to resolve, since it will require from 1 to 3 decades. Ho HO HO Watch the levels of Prozac use go up. This is going to create the Prozac society in which 1/3 of the population needs to use the stuff. Got Pfizer? -ggg-

To: UnBelievable who wrote (35428)	11/9/2000 6:31:38 AM
From: AllansAlias	Read Replies (2) \| Respond to of 436258

UB, It's not that 2600 is "so far down" -- it's a matter of what it slices through to get there. Many charts, like the S&P, would violate old lines that no bull would want to see violated. It is never the drop that counts, it's the quality of the drop.