P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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From: DebtBomb	8/16/2006 10:34:51 AM
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The housing bust: Approximately 3 out every 5 jobs over the last 4-5 years has been real estate related. Everyone has been using their home equity appreciation as an ATM machine. People have done interest only loans like in the late 20's, and other risky financing like financing their new cars over 30 years, and doing Arms in a low rate environment. Massive speculation. What was everyone thinking? Houses would keep going up 20% per year forever? Where would the buyers come from? Mars? This same kind of thing happened in the late 20's. So, what happens next? Bankruptcies, foreclosures, lay-offs, economic melt-down? And, the Fed can't cut rates this time, or the dollar will crash. (it's already started) Got currency crisis?

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