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Strategies & Market Trends : Quarter to Quarter Aggressive Growth Stocks -- Ignore unavailable to you. Want to Upgrade?

To: stomper who wrote (2106)	2/24/2001 3:18:19 PM
From: Jack Hartmann	Read Replies (2) \| Respond to of 6928

They have had those equity credit cards for a while. average per capita credit card debt now stands at over 8000 Maybe that's why we have no savings. I met a few kids coming out of graduate school with 30 year loan payment plans. One woman had 90K of loans from Georgetown law school. Another woman pays $1600/mo for childcare for two kids. One guy has 60K in credit card and students loans. He's taking community college classes to defer the interest and payment on the loan. If unemployments goes to 5%, I can imagine bankrupties just skyrocketing. One kid this week asked me about setting up a Roth IRA. I asked him if he had any debts. 18K in credits cards and student loans. I told him to pay those off. He felt he could make more in the stock market. I said 9% is great for bonds and paying those cards is the same effect. I watched a 59 year old man take his retirement in cash vs. an annuity. He took 200K and put it in an IRA. A year later, he only has 120K. He now has to work at least until 65 instead of being retired. I watched a couple take 250K in a speculate in the market. Eight months later, they have 190K. I husband was up to 300K then got killed in buying the dips in last march. I would say TA is an alluring seductive drug as novices feel it will solve thier ignorance of a company's fundamentals. I am always surprised that many investing in tech most cannot even describe what the company does other than it is involved in "routers", "storage", "wireless" or "fiber optics". People ridicule social security, but at least it will be there for some people unlike their IRAs. Of course, I could be hanging out with the people tied for last place in the common sense derby and my experiences are not typical. <gg> Jack