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Old 11-20-2001, 04:19 AM
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Default What happened to doom and gloom Jack?



Jack,


Seems like the economy and market doesn't want to listen to your gloom and doom so far. This looks to be about the mildest recession possible and only a terrorist could help your scenario now. Economy is still not that far from full employment in all but the airlines and leisure industries, people are still shopping and spending money, real incomes are still going up despite this supposed gloomy period. Here in Vegas the town was packed for a big fight weekend with Sunday night being about as crowded as I can remember this town being for not having a holiday Monday. All in all, I would have to say your projections were about as far off as possible and despite some pundits claims that the recovery isn't here yet, my response is neither is this big gloomy period either. The economy will grow for the year and next year looks to be potentially a blockbuster year with once again the strongest economy in the world leading the way. Next time you fear for our future, just remember Americans have one pastime they enjoy the most...SPENDING MONEY! We don't need the manufacturing base, we don't need to have a positive trade deficit, and we don't need to keep immigrants out. All we need to do is keep spending money and the virtuous cycle will play out. The rest of the world will figure this out one day...


For now I am off on a long vacation, I expect the news and the market to be even better when I return, in the midst of the old tradition hopefully - the good ole Santa Claus rally.
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