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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (6606)	8/3/2001 11:19:27 PM
From: Ilaine	Read Replies (4) \| Respond to of 74559

>>Despite increased unemployment and home foreclosures, record personal bankruptcies and massive stock market losses<< Oh, horse hockey [not you, dear, the writer you linked]. Home foreclosures are NOT up significantly. A 9% rise on 142,000 is less than 14,000. usatoday.com Personal bankruptcies, yeah, but they were all rushing to get it done before the law changed. Joe Six Pack is now paying 14.3% of take-home pay on debt - which includes the mortgages and the credit cards and the whole shebang - big deal - it's been bopping between 12% and 14% for the last two decades. federalreserve.gov "Increased unemployment" - from 4.0% to 4.5%. Ask DJ what Germany would think of 4.5% unemployment. dismal.com I am starting to think that it's time to think like a contrarian. The time to buy is when everyone else is screaming about how awful everything is.

To: Cogito Ergo Sum who wrote (6606)	8/3/2001 11:21:04 PM
From: TobagoJack	Read Replies (3) \| Respond to of 74559

To anyone on the thread, what is the consequence of personal bankruptcy in all its flavors in the US? In Hong Kong we still have debtor's prison, a fine and traditional British institution that really keeps debt performing. Something to be said for British common law. Once upon a time a major US oil company refused to pay one of our business bills and its CEO refused to take my partner's phone calls. It took us less than 2 days to prove our case to a judge who then issued a wind-up order for the entire Asia company of the not-to-be mention oil company. The CEO then got on the phone with my partner in a hurry, as if a nuclear bomb was about to go off under his seat:0) Chugs, Jay