Zeev's Turnips Patch-No Politics (ZEEV)

[pstuartb]

Zeev - I read your jousting match with Luc on CFZ. Mishedlo asked an interesting question during the course of your debate, but it seems his question fell through the cracks. Would you be willing to address it here? TIA.

"I fear is that he stays here at these rates too long and as early as late next year we get a relapse of this mild economic recovery with strapped consumers going on strike and particularly problematic Asia and Europe causing economic slowdown which lasts a little more than 3 quarters..

You think with that plunge in consumer confidence, autos, housing starts, bankruptcies, credit card delinquencies rising, etc that the consumers are going to keep going for another year?

I think the consumer retrenchment just began and will get worse for another 6 months, longer if employment numbers get any uglier. I look for a very anemic Christmas.

Why do you think the consumer can keep going?

I thought the basis of your rate hike was the consumer was done so we better give businessess an incentive to spend before everything goes to hell all at once.

I see I am intrepretation challenged now. ggg
But please explain how you think the consumer is going to hold up for another year. I do not believe it.

M"
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=18189792