Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: shades who wrote (25981)	3/19/2005 1:52:11 AM
From: Elroy Jetson	Read Replies (1) of 116555

I hope you're not serious - Cartels never work. "If you sell your homes / stocks / bonds, you're just letting the terrorists win" and nonsense like that just makes me laugh. Usually the very market makers who urge everyone not to sell, are the ones dumping their inventory of stocks / real estate / bonds before price declines too far. In 1890 California in particular, large land owners had undertaken debt funded improvements to their land holdings to prepare it for sale. Simply selling fewer lots to would-be home owners was enough to bring them into default on the loans they had taken on - even without lower prices. Just like home builders today, once home sales decline sharply, most of them will be in bankruptcy liquidating homes and land at distress prices. .

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