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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Telemarker who wrote (9833)	10/24/2001 11:02:42 AM
From: chowder	Read Replies (1) \| Respond to of 23153

Telemarker, sorry for the delay in getting back to you, I decided to take a couple of days off from my computer chair. I'm assuming credit card companies are going to continue to take a hit. Corporate debt defaults are on the rise and credit quality has fallen for 14 straight quarters. As corporations have a tough time making ends meet, I'm assuming we'll continue to see additional layoffs. I would assume this means more people who won't be able to pay their bills and uncollateralized bills are usually the first to go unpaid. Home foreclosures are on the rise. I read where home foreclosures rose 17% in the third quarter in the Denver area. Job layoffs continue to rise. I am assuming these people won't be paying their credit card bills. Banks are increasing their loan loss reserves which indicates to me that we haven't seen the end of the credit write-offs. Consumers are turning cautious and are spending less. This can't be good for credit card companies. These stocks are going down but the problem is when? Buy side analysts are filling the airwaves with Goldielocks fantasy earnings, fantasies that would make Walt Disney proud. I read where these proforma results are providing the ignorant with hope, and those in the know, with fear. The fearful know we had a tech bubble, a credit bubble and now we're creating an earnings bubble. How long can we continue to pump up the market on make believe earnings? These stocks should come crashing down but the question is when? dabum