[ex-Texan]

I was talking to a wealthy woman today about the economy and stock market. I mentioned that one of my contacts in Oregon has a business that clears $ 40k a month. He was surprised because his local bank cut back his credit line from $ 20,000 to only $ 10,000. He has never missed a payment and pays on time. The bank was upset because he pays the balance in full every month.

The woman was two sons who are bankers living in California. She claims to 'know' that all banks are lending money. 'Real estate loans and personal lines of credit are easy,' she claimed. She told me my business contact must be lying. Why? Because her sons claim business loans are going 'great guns.'

She trusts her stock broker because he put her into managed money account. And just has 'a feeling that everything will be all right' with the stock market. This is a good example of a person who has too much of everything. Talk about people with their 'eyes wide shut.'

[M. Espinola]

The naïve & stubborn lady with her 'eyes wide shut' regarding the health of the market, will have them abruptly opened when the commission hungry broker takes her for a royal ride, the next time things are not alright, which should not be that far off.

Some people refuse to learn from very recent economic history.