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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (39660)3/11/2002 2:53:40 AM
From: LTK007  Respond to of 99280
 
Dave think it through, perpetual money machines do not exist.
If the consumer does NOT slow down big trouble awaits.
For cripes sake Greenspan himself is saying that any country that has tried to do this in the past(Consumers spending regardless of debt and 'wheeling dealing" like they think they are George Soros) had a bad ending.
Greenspan comments are actually a warning, slow down your spending or he will slow it down for you.
I have actually been surprised about Greenspan expressing these views lately, but at last he is revealing he sees the danger in the consumer losing all sense of economic realities.Max



To: Dave Gore who wrote (39660)3/11/2002 5:45:41 PM
From: mishedlo  Read Replies (1) | Respond to of 99280
 
Dave, the problem with your scenario is that the money is ALREADY spent. New cars, carpeting, whatever.

The refinance boom is OVER.
I talked to two mortgage brokers recently that both told me that the remaining people refinancing are NOT pulling additional cash out.

M


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