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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: maceng2 who wrote (171956)6/12/2002 9:21:14 AM
From: Tommaso  Read Replies (1) of 436258
 
I remember the advice in the 1960s as to what to do in case of a nuclear attack. It began with advising you to take cover in a basement with jars of water etc. and concluded with "Then put your head between your legs and kiss your ass goodbye."

I have some friends who have quite calmly watched their Intel decline from 75 to 20. Even CNBC was announcing this morning that the NAZ 100 hit a new four-year low.

In the Wall Street Journal there was a story on mortgage lending this morning that reported that lenders are still competing to give money away as fast as they can. JPM is courting wealthy borrowers who are willing to spend over 50% of their annual income on mortgage payments. The thing is, should mortgage rates be adjusted up to levels seen back in the 1980s, that percentage would rise to 100%. It seems that mortgages are being written using introductory rates of 3%. I guess they figure what worked for credit cards can work with mortgages. And I say, what happened to PVN can happen to JPM.
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