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To: LLCF who wrote (25160)	11/8/2002 4:20:29 AM
From: elmatador	Respond to of 74559

Perhaps Rolf meant: "people are not happy, they are saving and not spending" Lousy translation of German into English, perhaps.

To: LLCF who wrote (25160)	11/8/2002 4:26:00 AM
From: maceng2	Respond to of 74559

I thought the interview with the ECRI guy was interesting. Message 18211129 It's down to consumer perception (confidence) now. I think the perception is... "Oh look the market is up a little. Would now be a good time to get my remaining wealth out of the market.."

To: LLCF who wrote (25160)	11/8/2002 11:03:29 AM
From: smolejv@gmx.net	Respond to of 74559

Hi DAK: re >>people are not happy, they are saving and not investing<< There's people and people in Germany, as you know; They're both, let's say, uncomfortable, if not downright pd off. The man in the street (H3B or something like this) is saving, for instance so that he will be able to make it to his death bed, because the state will be unable to meet his retirement expectations. Among other things. And the businessman is mighty pd as well, because the banks want an arm and a leg (ie absolutely no risk) for their money and the state is asking for more money - example: the medical care benefits go from 19.2% to 19.50% in december, with the employer and the employee sharing 50/50 of the cost increase. Investing? You must be joking, Mr Feynman. "Cant you go anticyclical?" "Er... could you first call Bruxelles and check about ... you know ... that 3% deficit stone wall?" Not that I have any high opinion about the new old government. RegZ dj