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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: GraceZ who wrote (12923)10/6/2004 3:31:39 AM
From: Elroy Jetson  Read Replies (6) of 116555
 
I'm particularly amused that you still steadfastly cling to your very imaginative theories in spite of the clear evidence that proves them completely wrong.

Let's review this nonsense. You had to kill your husband because bullets at Walmart were on sale at 90% off. This character-disordered view of the world may be typical of psychopaths but not the general public.

Low prices and discounts don't force people to kill their spouse, borrow money they don't need, or spend money they don't have. These two charts prove that's true. If people don't need money they don't steal the equity from their homes to fund their lifestyle - just because interest rates are lower than they were a few years ago. People have extracted the equity from their homes at a shocking rate during the past four years because they need the money. The Home Equity Extraction chart shows this clearly in a way anyone can see.

home.pacbell.net

home.pacbell.net

Mortgage Rates have declined steadily since 1982 yet:

1.) major equity home extraction did not occur during the real estate bubble of the late 1980s. It's plainly obvious to anyone looking at the chart, other than you, that equity extraction is not related to real estate cycles;

2.) major equity extraction did not occur during the stock bubble of the late 1990s - even though stories were commonly in circulation that people used home equity loans to buy stocks. Obviously this did not happen enough to show up on the chart. Instead the chart clearly shows that people took advantage of this period of economic prosperity to pay down their mortgages in spite of low rates on home equity loans. This is obvious to anyone other than yourself.

You're very talented in your small business using Adobe PhotoShop to make photographs of scenes look much better than they are in reality - visual lies if you will.

Your talent for seeing what a picture could be with enough imagination and re-touching is a great asset in your business. But this this same talent steers you terribly wrong in the area of economics.

Your misreading of charts is so obvious that some have gone so far as to privately suggest to me that you may be blind. They suggested that your computer can read the message text to you, but you can't actually see the charts.

People have extracted the equity in their homes at a shocking rate during the past four years because they need the money:

their investments are doing poorly;
wages have remained stagnant;
the number of unemployed people who are no longer eligible for unemployment benefits are at record numbers;
living costs have risen drmatically (in spite of what the Economagic Lie Server says).
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