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Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: Junkyardawg who wrote (6355)	3/26/2001 9:07:41 PM
From: Rich1	Read Replies (2) \| Respond to of 15481

The New York types have 5 reasons why we are in deep doo.. 1. Wealth effect in reverse will hurt consumer spending.. 2. Savings has all but dried up and went negative..when this is all over people will stop spending and actually start savings.. 3. All the built up technology i.e. GX, telecom infrastructure is way ahead of its time and will be obsolete. 4. Millions of dollars have been lent on all thsi stuff and there is no way to collect what the JDSU, AMAZONS and all the companies owe.. 5.Banks will go under because of all this.. All these will combine to create the Perfect Storm.. The guy that told all this is very knowledgeable and very, very, wealthy over 2 bill. He thinks interest rates will be 3 percent within a year.. This recession he thinks will be almost as bad as the 30's and will last 2/3 years.. He scared the shit out of me.