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

GLD 374.22

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Nov 21 4:00 PM EST

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To: abuelita who wrote (15402)	3/16/2007 1:48:41 PM
From: energyplay	Read Replies (1) of 217942

Re: Auto industry in the US and Canada - I should point out the problems of the auto industry in Michighan and nearby parts of Canada is causing housing prices to drop rapidly, and late payments to soar. This is not a sub-prime problem, this is hitting prime borrowers - almsot everyone across the board. One of the reasons this economic bust may be contained to Michighan and nearby areas is the big agricultural boom, lead by corn for ethanol. As we get to higher latitudes, such as northern Michighan, northern Wisconsin and Canada, there is generally less corn grown than say southern Illinois. The general rise in agricultural prices will provide some help for the northern areas, but not the corn boom other places are experiencing. The auto industry bust could cause a breach in the wall around sub-prime problems. I would not expect any problems to be able to spread west, Alberta and BC should do fine. That may cause an interesting problem for Canadian economic policy, with Alberta red hot and Ontario getting dragged down.

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