Jim Devine wrote, >Doug will point out (correctly) that there's a difference between the >economy slowing (or going into a recession) and a crisis There's also a difference between normal stability and being unusually vulnerable to crisis. It doesn't snow every day in winter, either, but it's a good sight more likely to snow in winter than in summer. We don't say, "It's not snowing today so winter must be over." >Either way, we should expect consumption to slow in the future, since the >stock market is in the doldrums and as consumers adjust their plans to >reality. The reason for the negative savings is less important than the fact that it suggests an unsustainable level of consumer spending. Either income has to go up (unlikely, considering falling corporate profits) spending has to go down (more likely) or savings will continue to be negative (which could have all kinds of interesting implications for money, prices and credit). Regards, Tom Walker ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ #408 1035 Pacific St. Vancouver, B.C. V6E 4G7 [EMAIL PROTECTED] (604) 669-3286 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ The TimeWork Web: http://www.vcn.bc.ca/timework/
