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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (67247)	2/13/2001 1:45:21 PM
From: Lucretius	Respond to of 436258

LOL.... gonna make for some ugly candles tonight -g-

To: AllansAlias who wrote (67247)	2/13/2001 1:49:01 PM
From: chic_hearne	Read Replies (1) \| Respond to of 436258

Allan, I did like what one of the senators said. He was right on the money in my opinion. Can't remember which guy is was, but went something like this: Take two people earning the exact same income. Person A is near retirement and has been watching their 401K statements ballon over the past few years. Person B isn't near retirement so they don't have much in their 401K. Therefore, Person A has been much more likely to overspend the past few years because they feel rich everytime they looked at their retirement accounts. This, IMVHO, is *EXACTLY* how the stock market has been fueling the economy. Of course, the reverse will also be true with a declining stock market. The future rich will slow spending because they all of a sudden don't feel so comfortable with what their retirement accounts look like. In other words, we're f*cked unless they can't re-inflate the bubble.