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To: Victor Lazlo who wrote (139372)	2/16/2002 9:22:35 AM
From: Glenn D. Rudolph	Read Replies (2) \| Respond to of 164684

"Glenn I don't interpret higher gas prices as an increase in retail spending. Most people buy the same amount of gasoline, whether it is $1.20 a gallon or $1.15 " Victor, Neith do I nor did I imply that. Here is the real core of the matter: "Sales increased at department stores, building supply stores, furniture stores, clothing stores and general merchandise establishments in January. Sales declined at electronics and appliance stores and at restaurants and bars. " Simply durable goods sales are soft but the average American is spending very nicely. This thread has a general tone of doom and gloom. It is not so bad in our current economic environment. It is also improving and picking up momentum. You will see a nice economic rebound during the second half of 2002.