Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: surfbaron who wrote (4290)	8/10/2002 10:56:33 AM
From: Jim Willie CB	Read Replies (1) of 89467

I think more & more refi cashout will retire other debt and go toward additional spending less & less the deflationary trend is well underway retiring old debt is part of the process reducing money supply new refi cash is likely to pay down credit card debts maybe not all of it, but a piece of it even as lower rates by the Fed loses its punch with the economy lower rate for mortgages loses its punch with credit-based consumer spending the old ways are coming to an end also, a strange new phenomenon associated with deflation now comes into play WAIT IT OUT FOR LOWER PRICES this may occur with mortgages also, but I doubt it you have closing costs of $1-2k in 1998 and 1999 my home was refi'd twice at a cost of $7500 total, when costs werent given away the patterns are slowly changing, Surfer what was done last year might not happen the same way people are getting scared on the fear meter, I would say we are at 2 of 10 / jim

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