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To: Earlie who wrote (140890)	12/30/2001 2:01:41 AM
From: lifeisgood	Read Replies (1) \| Respond to of 436258

What some folks are not aware of is that over a very long period of time, reported corporate profits have traced out a line that is very similar to government corporate tax receipts..... until this past few years (very suddenly these two lines diverged with reported profits rising even as actual corporate tax receipts slowly declined....... I wonder why). Well, if the corporate world is any example, all the laid off consumer has to do is finance more spending by going even further into debt and using "pro forma" (i.e., non existent) income as collateral. best... LIG

To: Earlie who wrote (140890)	12/30/2001 2:23:32 AM
From: PerryA	Read Replies (2) \| Respond to of 436258

with reported profits rising even as actual corporate tax receipts slowly declined... That may have been one of the accounting games that was working in the markets favor but may now work against the market. I still recall the many warnings about underfunded pension plans several years ago, but it wasn't long into the mania that this issue quietly faded into the background. The mania substantially reduced required contributions and the difference went straight to the bottom line. We may see this become an issue again now that it's not working in the markets favor. Funny how those feedback loops work. Regards, PerryA