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To: sammaster who wrote (41300)	5/16/1999 11:54:00 PM
From: Terry Whitman	Read Replies (1) \| Respond to of 86076

That's a decent plan. People will forgo luxury type items for economy type ones. In the great depression- Used clothing, furniture, and repair shops were actually growth industries. All retailers will suffer somewhat. MCD will get more of Friday's business- but more MCD customers will eat at home- and so on. The only real recession proof companies will be commodity type companies that are not over priced. Book Value may actually be a good valuation measure for recession. If we continue to inflate- the co's with a high balance of hard assets will probably inflate too- because their BV will increase. Got Land? <g>