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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (151930)2/18/2002 3:20:13 PM
From: ild  Read Replies (1) of 436258
 
<<<Instead, a very tough 2.15 years will just be beginning where Americans should learn the true pain of excess debt. The period from November 2002 to early January 2005 will be one of the most difficult periods of "debt deflation" America's markets have ever seen. The ever-rising property market will take it on the chin, as will those who use 90% financing to buy their houses today. As much as people talk about the Enron scandle today, the GSE GMNA and Fannie Mae scandals of this latter period will be far worse. 7700-7800 on the Dow will beckon during this period. >>>
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