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To: BWAC who wrote (60303)	7/15/2002 3:42:59 PM
From: kvkkc1	Respond to of 77400

Failure to keep businesses viable will lead to mass unemployment, killing consumer spending. Just what your dumbocrat buds want to see.

To: BWAC who wrote (60303)	7/15/2002 3:44:58 PM
From: RetiredNow	Read Replies (1) \| Respond to of 77400

Hmm. It's a good thought experiment. On the plus side: * lower consumer household debt/stronger balance sheets * pick up in disposable income after mortgage debt is paid off On the negative side: * loss of a tremendous amount of investment in the stock market * less money for financing businesses, which will lead to lower business investment and spending I don't know BWAC, it's a toss up. But my gut tells me that we are a spending driven economy. If spending dries up, that is going to be bad for all of us. For instance, notwithstanding the systemic failures within the Japanese economy, their high savings rate has been a major impediment to their ability to spend their way out of their decades long recession. What do you think the effect will be?