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To: Wyätt Gwyön who wrote (77822)3/9/2001 11:56:19 AM
From: pater tenebrarum  Respond to of 436258
 
real wages are stagnating since the 70's...thus all the 'prosperity' has come at a huge price: people have to work a lot more, and they have to borrow a lot to be able to finance their life styles.
they're not in any way shape or form prepared for a downturn. the rate of dissaving has really accelerated at an astonishing pace since the Greenspan put was invoked in '98.
now the piper demands payment for the foolhardiness of Mr. Moral Hazard...