The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: John Vosilla who wrote (82126)	5/24/2007 11:07:22 AM
From: Jim McMannis	Read Replies (3) of 110194

Todays number just sawed off the legs of any rate cut by the FED. We both know the ten year should be at 6-7% minimum right now. Also. The jump in new home sales because of price slashing by builders is right on the money for the B wave of a 3 wave ABC down pattern in home prices. Even if you consider a 5 wave down pattern it would be a 2nd wave. People are thinking they are getting a deal but if mid 1980's in Texas is any indication, there is another wave down coming in home prices after some stabilization. The first wave of fools with cash are buying now. The market will take their money next. If Charlie does something significant with taxes in FL then all bets are off. The drop in home prices pretty much shuts the door and gaurantees foreclosure for a lot more bubble buyers as well.

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