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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (10277)	12/5/1997 1:17:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 18056

Pete: bankruptcies have soared in the last two-three year, the problem just gets worse with time. I'll dig out stats and post the link later in the day. The fed does assume that the guy in the street is not spending his 401K profit, otherwise they'd be seeing it in inflation numbers. Stock markets and crashes do not factor into economics very much, I saw a fed paper on this subject. Their history of stock markets suggests that boom and bust of stock markets really doesn't impact an economy very much.

To: MythMan who wrote (10277)	12/5/1997 1:24:00 PM
From: Mike M2	Read Replies (3) \| Respond to of 18056

MR M. ho ho ho you want some stats. Dr. Richebacher in his Oct letter says "...consumption in the 90's hit its highest share ever of GDP (68.6 %) ; at the same ,from 1992 to the first half of 1997, the U.S. personal savings rate has plunged from 6.2% of disposable income to 3.6 %, and from 4.5 % of GDP to 2.8%. I would also offer as evidence the record # of personal bankruptcies, delinquencies on credit cards and record consumer installment debt as a % of disposable income(sorry don't have the # handy) Richebacher Letter ,1050 Southeast 5 th ave,suite 100,Delray Beach,FL Mike