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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (30550)4/7/2008 8:11:28 PM
From: Madharry  Read Replies (1) of 78747
 
I dont understand retailers very well but geez it sure seems like most consumers are pretty well tapped out. people who are about to leave their homes arent going to be looking to buy new clothes i dont think. interesting article i just read about the illiquidity of the various mortgage based securities and how this business is over and banks are having a big problem borrowing from each other and nobody really knows how solvent they are. certainly not other banks. if banks are reluctant to lend short term to other banks what does that say about the investment quality of banks? Wont be long before people are burying their money in their back yards. I dont think we will see a bottom until we here about banks failing and people standing in line to take their money out. the real estate situation continues to be bleak. And we havent even seen the impact yet of all the layoffs in the real estate, financial, retail , and airlines yet. the stimulus package to me seems like the equivalent of throwing out a life preserver to a guy in the atlantic ocean surrounded by sharks, with the announcement that help may come at some point in the future. Stigliz today on some network has the right idea. govt needs to step in and induce current homeowners not to walk away by offering them special mortgages. govt should not bail out either bank executives or homebuilders.
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