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To: pater tenebrarum who wrote (66229)	2/9/2001 1:42:51 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 436258

One potential victim of consumer credit satiation are the casino stocks, for two reasons that are sometimes overlooked: 1) Casinos frequently extend credit to their "Big Playahs"...with expectation of marker pay back within 30 days. Undoubtedly, the recent market "adjustment" will swell the bad loan write off on this. I'd love to make a sarcastic comment about how much help home refinancing will be to the casinos, but I'll leave it to the imagination of the reader.... 2) Casinos have to a large degree a fixed overhead. They HAVE to keep restaurants, shops open as well as the gaming tables in order to bring in the investors, ERRR, gamblers. In a recession, they will DIE pure and simple. Moreover, the Vegas-centric Casino companies (MBG and MGG primarily) will be hurt by the Cali-ute crisis (to say nothing of the tech stock option implosion) as a large chunk of their business comes from Cali. Disclosure: I own MGG poots (and may get short if they bounce into expiry).

To: pater tenebrarum who wrote (66229)	2/9/2001 3:43:44 PM
From: awi	Read Replies (1) \| Respond to of 436258

better yet, they probably invested it in CSCO in order to quickly double their money... also, since in Nov. consumer credit increased quite a bit again while sellers of big ticket items reported a huge drop-off in sales, one could infer that people have begun to use their credit cards for paying recurring expenses like heating bills et al. Does anyone have an explanation why the euro is stuck in the mud while this sell-off is going on? It's truly beyond me...