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: mishedlo who wrote (62508)	1/22/2007 9:47:46 AM
From: suanny	Read Replies (1) of 116555

Mish I mentioned to a relative about the 12 to 36 month no payment financing which I was aware of only because of your post.I was suprised to find that he was well aware of the financing,which I had thought a new innovative tool.It turns out he has an friend, who had been bundling mortgages,and was transfered to working with forclosures.This guy said he has been authorized to use this type of financing to essentially hand the keys back to people facing forclosure for another three years.That arrangement seems similar to the bailout or helicopter money,that you say will not come.I do not have any idea how wide spread this practice is ;but,I do not remember hearing a lot about sub prime mortgages until they were already wide spread.With the insane policies that leadership has exhibited I have little confidence they will allow your logical outcome deflation to occur,it seems they want to do as much damage they possibly can.There is little evidence to support your faith that bankers will not destroy the system which served them so well.

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