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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (14554)	3/3/1998 3:47:00 PM
From: Lazarus_Long	Read Replies (1) \| Respond to of 94695

<< the farmers were in a depression the whole time, during the supposedly boom phase. >> Good point. I'd forgotten about that. My feeling is that the different economic parts of the US in the thirties were more closely connected that international trade and finance is now. Whether that will make a difference - -we shall see. << Has anyone on this thread seen any direct evidence yet in the U.S. of the contraction in Asia. >> There have been numerous companies blaming poor performance on SEA. OTOH, cynics have pointed out that they had to blame it on something and why pick themselves? << maybe the hidden flaw is the vast overexpansion of credit in the US. >> Yes. Another frightening thought. I have one credit card (ATT VISA) which I pay off every month to avoid interest. And every month I receive dozens of offers for credit cards. It doesn't seen to occur to these clowns that the reason I am a good credit risk is the same reason I won't take their offers. And it doesn't seem to occur to them that they are causing their own problems by their behavior. They want to tighten US bankruptcy laws to recover more from their bad loans. Maybe they should just stop making bad loans. And ATT is selling its credit card business to Citibank. Citibank has said they are unhappy with people such as me. The head of their credit card division referred to us as "deadbeats". An interesting perversion of the term. Till now, I had always thought that a deadbeat was someone who DIDN'T pay their bills rather than someone who paid on time or early.

To: Tommaso who wrote (14554)	3/3/1998 6:33:00 PM
From: Don S.Boller	Read Replies (1) \| Respond to of 94695

RE; the comparison with 1929 (more on this) Tommaso - It seems to me that there are many differences between the eras...several which have been mentioned, of course. In the 20's this country was heavily agrarian and just beginning to flex the muscles of mass production manu- facturimg. Most of the goods consumed were made "at home". Today, as has been pointed out - we consume goods from all over. (Last weekend I bought Brazilian lobster tails, and Russian king crab claws). Drove to the store in a Toyota RAV 4, etc., etc. From vcr's to clothing - we get goods from abroad. I have three sons. One is still in college (studying engineering) and working full time for a co. involved with holography. The oldest is a rocket scientist (communications design for the manned space-craft). The youngest is a software testor for a local tech co. Point being - this is an entirely different economy than the 20's....expect changed scenarios. BWDIK Don