An obscure ZIM in Africa traded Down Under Message Board

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Gold/Mining/Energy : An obscure ZIM in Africa traded Down Under

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To: smolejv@gmx.net who wrote (141)	7/28/2002 1:47:05 PM
From: Snowshoe	of 867

I punt with Snow on this one. I am still wrestling with this. But right now I see the herd stampeding to mortgage themselves to the hilt at the current "low" rates. But are they really low? Not if we're heading toward deflation. So what do I do with the cash making 1.6%? I'm being tempted to buy all sorts of things: a remodeling project, real estate, a fancy new car, state of the art home entertainment center, rare books, high quality gold nuggets, etc, etc. The USA herd is stampeding in this direction now. Borrowing at ~6%, getting a tax deduction, and effectively borrowing at 4% to buy all kinds of stuff. They'll sure be sorry if mortgage rates go to 4% but they can't qualify for refinancing again because: a) their salaries have been cut and b) the real estate bubble popped so they have negative equity in their homes. My instinct is to go against the herd on this.

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