John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (8511)	12/6/2007 3:49:51 PM
From: Augustus Gloop	Read Replies (1) of 33421

I believe this is what needed to be done. Don't lower rates and destroy the dollar! We did that and it hasn't been good. I don't give a damn what anyone else thinks - we needed to avert a HUGE housing crisis that would hurt EVERYONE AND we needed to protect our currency. Now back rates up to where they were, accept the downturn in the economy from this tired bull AND SAVE the housing market from a death spiral. I was right when I mentioned it in august and I'm right now. Will there be issues with this policy - yep! NO NEW HOME EQUITY LOANS! NO NEW CHEAP MORTGAGES - 6.5% take it or leave it!

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