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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Little Joe who wrote (109234)10/18/2010 7:55:12 PM
From: GST1 Recommendation  Read Replies (2) of 110194
 
It is not impossible for the price of housing to climb again and soon -- it is just that the dollars in which the housing will be priced will have to fall much faster that the pricing structure of the housing stock is rising. For the sake of illustration, if the dollar is cut in half, to prevent riots we can afford to give everybody a 5% pay raise each year for a few years. Your purchasing power on international markets will never recover, but you will be made to feel good that you got a raise and the dollar value of your house appeared to rise -- the kind of phony prosperity that will pacify enough Americans as we slide lower and lower on the international wealth scale while attempting to avoid any unseemly public outrage.
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