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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 457.82

+1.3%

Jan 23 4:00 PM EST

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To: TobagoJack who wrote (10302)	10/20/2006 4:20:24 AM
From: energyplay	Read Replies (1) of 219713

Having bankers make the same mistake over and over may be a better outcome than having them make new, innovative mistakes. There wasn't too much of a real estate bust in the early 1990s, because lenders and regulators had learned lessons from the S&L crisis and crash of real estate in Texas. The bankers did loan far too much money for telecom, but soem of it was recovered and this built somethiing useful for the economy. Excessive telecom competition with cost saving technology drove prices down, damaging the telecom industries finances. Those telecom prices were a cost to every other industry, so the rest of the economy benefited. At one time during the late 1980s the biggest non-salary cost for Merrill Lynch has telephone and data communications, with a cost of about 800 million USD per year (from memory, so maybe not exact) That number today should be at least 2/3 lower. In a way, avoiding a boom-bust cycle in real estate lead to the super boom in residential housing prices. Caution and prudence from one decade contributes to building speculative valuations in the next decade.

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