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To: pater tenebrarum who wrote (100476)5/8/2001 10:35:31 AM
From: Perspective  Read Replies (1) | Respond to of 436258
 
I was reading something this AM about a steep reduction in foreign (ie US) orders to Germany. I stood up and took notice when the trade deficit plummeted last month. I've been watching for that to happen as evidence of the bubble entering the next phase, as the consumer finally taps out through a combination of overextension and layoffs. I expected Wall Street to hype the falling trade deficit as "finally - good news on the trade deficit!" when in fact it indicates the end of the consumer binge and the failing of the last bastion of demand in this maladjusted mess of an economy.

Has there been much other data out of the Euro-zone to suggest that the US consumer is finally backing off? Are the German sportscar manufacturers finally feeling the effects of the US problems? I've been amazed at how well high-end autos have done in the face of the bear market in US equities.

BC