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To: Jorj X Mckie who wrote (10038)	7/22/2002 6:01:29 PM
From: Peach	Read Replies (1) \| Respond to of 17639

Very well said.

To: Jorj X Mckie who wrote (10038)	7/22/2002 6:01:39 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 17639

>>I think that he should point to the debt and flat out state that people need to start paying down their debt instead of spending on unneeded items. There is no way out of this that isn't painful. If we start paying down debt, then retail spending will decrease and cause more weakness, but this is what we need to address the underlying problems in the economy. He should say this and should point out that it is better to pay off debt now before interest rates start rising. He should point out that there aren't too many directions that interest rates can go from here. << that just ain't gonna happen.. i think it's becoming more and more obvious that we are looking at a profitless prosperity and that in and of itself is highly dependant on consumer spending. as long as there is sufficient cash flow to keep operations going, there has been an ability to mask profitlessness. there is simply overcapacity in almost every sector you can think of..... until overcapacity diminishes (or demand picks up) "earnings" are going to be hobbled. the last thing politicians want is for consumer spending to dry up.