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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (1547)	3/8/2004 10:51:31 PM
From: mishedlo	Respond to of 116555

Bankruptcies insightmag.com By no coincidence, the Daily Bankruptcy News reports that consumer debt now equals 110 percent of disposable income, in comparison with 85 percent of disposable income 10 years ago and 65 percent 20 years ago. The consumer is exposed to rising interest rates, says Daily Bankruptcy News, because 40 percent of consumer debt is priced at floating rates. Warren warns that when an unforeseen event such as serious illness, job loss or divorce occurs, middle-class American families have no discretionary income to fall back on and little or no savings. The Internet bubble of the late 1990s and the related swings in the value of the equity markets may have seemed gigantic at the time, but this important book suggests that the biggest bubble of all - namely, the market for U.S. homes - may be the next bubble set to deflate. The author particularly is critical of the credit-card issuers and other pro-viders of consumer credit, accusing them of raping America's middle class, first through usurious interest rates on credit products and later by using the courts to take away their homes and other property. ...

To: yard_man who wrote (1547)	3/9/2004 6:19:53 AM
From: ChrisJP	Read Replies (1) \| Respond to of 116555

Hi Tippet, the crooks will prop it to look good for the 'lection I agree with you completely but I think they tried to prop it up in a less direct fashion by stimulating the economy like there's no tomorrow, fudging data so that they can justify keeping rates low, and so on. I don't think back in August (when they had to initiate these plans so the recovery would be in full swing by summer 2004) they were expecting commodities to go through the roof and for companies to hire offshore instead of onshore. They must've known that price of oil in dollars would sky rocket. I'm not sure why Zeev thinks the NASDAQ will make a move to 2300+ this summer. Maybe its cuz of great earning reports through July. I don't know -- maybe I'd better check, lol. Chris