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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: jimmg who wrote (76443)12/22/2006 2:19:02 PM
From: Mike Johnston  Read Replies (1) of 110194
 
Millions of people buying houses, remodeling houses, buying fancy clothes, buy SUV's with 21' custom wheels, exotic vacations, designer sunglasses, home theatre systems, more granite counter tops, a vacation house in the mountains, a facelift with liposuction, refinancing the house to add a yoga room

No wonder when J6P suddenly has 100 or 200 grand sitting in his checking account courtesy of the real estate bubble.
Thank Greenspan's perpetuum mobile, this amazing house ATM cash machine.

But the "ugly" truth is, you can't print or borrow or spend your way to wealth.
It seems that many people will have to learn a basic lesson in economics, there is no free lunch.

And it will be a harsh and ugly lesson for many.
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