HARDLY any DOOMERS around......That's a bad sign that complecency is to widespread and our economy is bullet proof. NOT

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When people are talking negitively about future events and economic problems surfacing is about the time nothing happens.

So far everyone is extremely confident and very few people have any negitive impulses about the economic landscape.

I think we are very close to a very large crisis due to our indebtness at historical all time highs.

All the signs seem to be in place, I'm afraid to say.

13 years ago there were plenty of doom books/publications on the market and our economy just got better. Now I can't find anything about doom in any bookstore.

Being a true contrarian, I feel the major event is getting very close to being a catastrophic in severity.

Just my opinion, so be nice !!

-- nm (nm@aol.net), May 08, 2000

Answers

Actually, there's still a lot of doom around. Just wander the internet and you'll find all the doom you could possibly want.

It seems to be a major growth industry.

-- E.H. Porter (Just Wondering@About.it), May 08, 2000.


--nm, Pale face, what do you mean you can't find "Gloom and Doom?". You can, if you look hard enough. Although the "Gloom and Doom" might be a reality check, a "market check", as they so politely phrase it. You forgot to mention Ed's book about possible Doom,it came out within the past two years. There's a lotta doom books, scag rag papers at the check out line, only, mostly, nobody reads them. I don't care the economy is surging, the markets are on a high. What I like is I have spent almost zilch in a grocery store for the past 11 months. I am feeding my family in 2000, at 1999 prices. Saved, a whole heap of money. Because I reacted to a possible danger. The danger was rising food/gas/everything prices. They did happen. I do have to pay the gas, but I can afford it since I stocked food at last year's prices. Heavens' Speed to you.

-- Whose (fool@reyou.com), May 08, 2000.

I believe what nm is trying to say is there is little rational doom. Of course there is, but he has missed it. If you want doom, we have a tornado watch and a thunderstorm warning. Hail the size of thingees. More storms coming. What more doom do you want. Have to unplug again.

Best wishes,,,,

-- Z1X4Y7 (Z1X4Y7@aol.com), May 08, 2000.


Anyone here familiar with the term BOHICA? That is the extent of my gloom and doom anymore. Murphy's law applies... as do the payments...

There is a house-of-cards about to fall though... Now if I could just figure out WHEN...

Yeah right...

barkin' at the moon...

The Dog

-- The Dog (dogdesert@hotmail.com), May 08, 2000.


GN is still around, at least in print. I saw a copy of his newsletter the other day and he is busy predicting a stock market crash to his captive audience.

-- Observer (observer@lots.to.observe), May 08, 2000.


BOHICA-bend over here it comes again, oh yeah, I am familiar with it! ;-) been a part of my life for 16 years 'till I learned to waddle away while holding my ankles! Call me jaded, but what comes, will come and not a whole lot I can do about it so i really don't care. Sorry.

-- Robert (celtic64@inficad.com), May 08, 2000.

FWIW - I'm "doomerish" on the markets for this month. But according to the self-proclaimed Big Brains around here, I don't know jack...

Time will tell, won't it?

-- LunaC (LunaC@LunaC.com), May 08, 2000.


BOHICA, fondest memories of Grt. Lakes and Norfolk... :-}

Fubar....thats what will be.....like Dog said, who knows when.

Why worry, pay down debt., always a good thing to do and scarf while you can....

Shh dog, glad you aint in my neighbors backyard...

But, glad to see ya....

----hoooowwwwllllll

-- consumer (shh@aol.com), May 08, 2000.


FOBIO

Frequently Outwitted By Inanimate Objects

{I believe this came from Tom Carey on the ol' bomb }

-- flora (***@__._), May 08, 2000.


nm- May I suggest a dose of Weekly World News? Guaranteed to contain so much doom as to make hiding out in a cave seem rational...

-- Gia (laureltree7@hotmail.com), May 09, 2000.


Greenspan has made interesting comments about some of the drawbacks of optimism.

Link

Greenspan warns bankers about loans

Lending standards assume current boom will go forever

By Rex Nutting, CBS MarketWatch

Last Update: 10:23 AM ET Mar 8, 2000 Bond Report

SAN ANTONIO, Texas (CBS.MW) -- It's not just the stock market that's been too optimistic -- it's also banks, Alan Greenspan warned Wednesday.

"Most bad loans are made in the good times," the Federal Reserve chairman reminded the Independent Community Bankers of America. The text of his remarks was made available in Washington. Read the speech.

Greenspan made no direct comments about monetary policy in his remarks. The Federal Reserve is widely expected to raise rates for a fifth time in the past eight months when the Federal Open Market Committee meets on March 21.

Community banks have survived and prospered even as the industry undergoes consolidation and transformation, he said.

However, "I would be remiss ... if I did not first point out some of the risks that still are lurking," Greenspan told the bankers, pointing to a "troubling trend" that bankers seem to think that the current once-in-a-generation boom is not "extraordinary and exceptional but rather ordinary and expected."

"Lending granted on that basis could have grave consequences for the industry's ability to weather weaker economic conditions," he said. "We have seen growing evidence of credit granted solely on the expectation that current robust conditions will continue indefinitely, with little thought as to how borrowers might perform under more stressful conditions."

As more small savers move into mutual funds and the stock market, community banks have responded by "moving lower on the credit-quality spectrum in a reach for higher nominal yields," Greenspan scolded.

The nation's top bank supervisor said he was "encouraged that there has not been a tidal wave of public announcements -- from large banks or small -- declaring rapid and large-scale affiliations among banking, brokerage and securities firms" in response to the passage of the Gramm-Leach-Bliley financial modernization law.

Greenspan also said regulators need to redouble their efforts to minimize excess burdens on banks while keeping a sharp eye for fraud, lax standards and inappropriate expansion of banking services. He suggested that recent large bank failures offered broader lessons for the industry and supervisors.

"Supervisors must become even better attuned to early warning signals or red flags," he said.

-- (CBS@MarketWatch.article), May 09, 2000.


So, there's NOTHING to worry about now? Does that mean I should go get a refund on all that tinfoil?

-- The (Tin@Man.com), May 09, 2000.

Just go over to WorldNutDaily - they've got all the doom one gal/fella could handle...

-- Y2K Pro (y2kpro1@hotmail.com), May 09, 2000.

i live in illinois. last nite, we had a nice little storm, with the tornado sirens a blastin. a guy 5 miles from me, his house eas completly leveled. tell me this guy dont know doom.

-- ed (edrider007@aol.com), May 10, 2000.

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