Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: stockman_scott who wrote (24530)	8/11/2003 2:34:24 PM
From: Jim Willie CB	Read Replies (3) of 89467

a few comments on the many articles I checked out FannyMae and FreddyMac will probably form a crack that brings down the house I mean the mortgage finance sector and Real Estate then the economy falls into recession such concentrated risk Japan spread the risk and destruction across entire bank system we focus the risk on heavily leveraged GSE agencies this is where the crack will cause derivative events FNM and FRE may have lost half their value in recent 5-6 weeks the NYPost and NYTimes are sniffing out the destruction Crudele and Krugman seem to be on top of it all but might not sense the extent of the troubles word is getting out that our entire USEconomy is a grand bubble our currency is but a junkbond our consumption economy needs Jack Daniels credit supply on a daily basis our official govt and banking response is ineffective, and might be making the situation 10x worse!!! instead of a natural resolution, we will have another shock wave, and a needed resolution on a much much larger scale SOMETHING UGLY THIS WAY COMES I will give an update later on about what Kurt Richebacher is up to with me of course, I pinch myself we will be meeting soon to talk in France for a few days I should not say any more than that I sure hope he has a sense of humor it is rumored that I have a big one / jim

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