The ENRON Scandal Message Board

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Non-Tech : The ENRON Scandal

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To: Baldur Fjvlnisson who wrote (4198)	7/3/2002 1:00:23 PM
From: Mephisto	of 5185

"And of course higher interest rates is about the last thing this debt ridden mess, households and all needs. Imagine the effect on the housing market. Scary. About the weirdest part of this whole shell game of a system is how it "insures" its own debt Everest through derivatives. Turning sub-prime consumer debt into prime paper and dumping it on the next pension fund used to be easy, don't know how it is now." >>>>>>>>>>>>>>>>>>>>>>>>>>>> I've talked to one neighbor about the economic problems and, although he invests in the stock markets, he doesn't sound particularly worried even though he knows people are losing jobs here. He claims consumers pack the sports' stadiums every night and continue to buy houses. How long can the consumer maintain this life style when so many people are losing jobs and commercial vacancy rates hover over 20% in some areas? Already, we have to pay more for everything because of the recession. Food prices are expected also to increase because of the drought.

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