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To: TheStockFairy who wrote (174065)	6/20/2002 11:19:57 AM
From: oldirtybastard	Respond to of 436258

the economy is set to rebound in the second half, and if you're good you'll go to heaven -g-

To: TheStockFairy who wrote (174065)	6/20/2002 11:25:52 AM
From: Knighty Tin	Respond to of 436258

TSF, If you're missing anything, it is the "nesting" effect of the attacks and various wars.

To: TheStockFairy who wrote (174065)	6/20/2002 11:46:40 AM
From: reaper	Read Replies (4) \| Respond to of 436258

<<it seems counter-intuitive that individuals would make large purchases when the economy is crumbling. >> not really, especially when you consider that you don't have to PAY for anything right now. and all the talking heads say everything will be fine in the FUTURE, so you'll deal with the payments then. for example, you can buy a car with no payments for a year. or buy a new home entertainment system at Circuit City on credit. or you can get a home equity line of credit of $100k and only pay 4 1/2%, and you only pay the interest, none of the principal. as long as people think that the future is so bright, they will keep borrowing money to spend and assume they'll make it up later. Cheers

To: TheStockFairy who wrote (174065)	6/20/2002 12:51:52 PM
From: benwood	Respond to of 436258

I agree with what MB said about nesting being a driving force for big ticket items. But another causal factor I believe is that we have been given a credit nipple and told that if you feel bad, treat yourself, you deserve it! Shop, eat, take a vacation, just hand over your plastic card. The jargon they use implies that you are "paying for it" with your credit card, but you aren't of course, you are borrowing for it. There will be a lot of heartache over the weaning (and evaporating denial) that will need to take place over the next few years to compensate for the drunken mania years and the realization that many good jobs are permanently AWOL to foreign ports, although I think people will ultimately find more inner peace and meaning in their lives.