The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (192)	7/19/2003 12:55:02 PM
From: Wyätt Gwyön	Read Replies (2) of 110194

What is going to happen when RE will start sagging? Templeton saying RE drop could cause 20% nonperforming mortgages in Equities mag interview, according to CI. mentions possible 90% price drops! sounds farfetched, but one thing to consider is the US will at some point require a massive devaluation of currency to close C/A deficit and maintain competitiveness in global capital mosh pit versus Chinese factory workers working for $10 a day or less ($4 a day according to "The Dollar Crisis", which strikes me as somewhat dubious in an economy w/supposed $4500 percapita GDP). likewise Japan needs a massive devaluation to be competitive and put its idle capacity to use. perhaps Germany as well with their world-leading wages, but don't know enough about them. all in all, it seems like a race to the bottom will begin in earnest at some point.

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