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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: J. P. who wrote (7708)1/1/2003 11:50:27 AM
From: John ChenRead Replies (1) of 306849
 
J.P.,re:"bagholders". Now that make sense. We used to
complain about gov's deficit spending. The GENIUS in the
FED( future Nobel prize winner(s) ) figure this one out:
let's shift it to the people.
Now, the people were 'drugged' with 'too much liquidity',
the local gov. were 'drugged' with the same drug (money),
when the well runs dry, you are seeing the BEGINNING of the
pain of not enough drug(money). Haven't you heard about
the local gov. complaining 'budget crunch' lately?
This will be a very long process since money stucked in
RE is extremely slow to unwind, again check JAPAN.
Consumer spending will be done if this country can be saved.
1. they spent too much the last few years and have enough
for garage sale for the next few years.
2. then they also spend it in the mortgage with the help of
the FED to pass it along to the future generation.
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