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To: mishedlo who wrote (198678)	10/20/2002 10:00:26 PM
From: Earlie	Respond to of 436258

Mis: I agree with some of his points, but I consider his "muddle through" idea to be based on rather thin commentary. With the economy in such nasty shape, the only way we are going to "muddle through " is if the consumer somehow manages to continue to borrow. I don't see how this is possible. What I expect to occur very near term, is for the impact of the continuing lay-offs to ratchet up a notch,.... to where Joe 2P decides he had better put off that new SUV and maybe even start SAVING a bit. If/when this occurs, while it is good news for the longer term, it is a dead fish in the face for the current economy. I think we are about to "muddle through" a firestorm in 2003. Best, Earlie