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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (15509)	12/11/2002 2:12:26 PM
From: Steve Lee	Read Replies (1) \| Respond to of 19219

How about the billions lost in state pension fund coffers. Money that retirees are/will be depending on for living expenses has disappeared. There are hard stats for those losses. What public service sector workers have lost thru these pension fund, is mirrored by what private sector retirees and soon to be retirees were depending on for living expenses. That's a whole load of people out there have moved from wealth to poverty. When they sell their properties to survive financially, there is a rush for the exits in real estate. There is some evidence this process has already started as the housing market is cooling off.

To: Lizzie Tudor who wrote (15509)	12/11/2002 2:14:07 PM
From: eddieww	Read Replies (1) \| Respond to of 19219

"but to claim that the trillions lost in the naz from peak down represent a dollar for dollar decline in consumer spending is quite a stretch..." Did someone say that? I must have missed that post. -g- I promise I would have laughed as hard at that as I did at dvdw's earlier. My friends had appr. 10% of their total wealth in those CSCO shares. Now they have appr 1.8%. They, of course, have incomes, but they currently have a savings rate about zero. So they do in fact have money to spend, which they do. However, their net total wealth has been reduced by appr 8.2%.