Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Gib Bogle who wrote (72325)	2/3/2010 4:36:59 AM
From: Maurice Winn	1 Recommendation Read Replies (1) of 74559

In Y2K I was advocating selling California, moving US$ to NZ$ at US43c to NZ$, borrowing heaps, buying a bunch of houses and waiting for the price rise. It came. When NZ$ hit 80c and house prices peaked too a couple of years ago, it was time to bail out and short the lot [also advocated right here in SI]. Amazingly, NZ$ = 70c still with house prices at all time highs. That's because NZ$ is still paying more interest than in Japan or USA so the US$ and yen lenders are foolishly thinking they can earn more here in NZ$ when really, all they are going to get is default and a thank you note for funding the manner of life to which we have become accustomed - sorry about the lack of repayment but we seem to be somewhat bankrupt. Better luck next time. Actually, they probably won't even get the thank you note and apology. Mqurice

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