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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: surfbaron who wrote (4290)	8/10/2002 10:56:33 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

I think more & more refi cashout will retire other debt and go toward additional spending less & less the deflationary trend is well underway retiring old debt is part of the process reducing money supply new refi cash is likely to pay down credit card debts maybe not all of it, but a piece of it even as lower rates by the Fed loses its punch with the economy lower rate for mortgages loses its punch with credit-based consumer spending the old ways are coming to an end also, a strange new phenomenon associated with deflation now comes into play WAIT IT OUT FOR LOWER PRICES this may occur with mortgages also, but I doubt it you have closing costs of $1-2k in 1998 and 1999 my home was refi'd twice at a cost of $7500 total, when costs werent given away the patterns are slowly changing, Surfer what was done last year might not happen the same way people are getting scared on the fear meter, I would say we are at 2 of 10 / jim

To: surfbaron who wrote (4290)	8/10/2002 11:50:13 AM
From: Jim Willie CB	Respond to of 89467

STOCKMARKET CYCLES, by Peter Eliades (Eliades is a real pro with financial market cycles) gold-eagle.com an excerpt: Over the past few weeks we have been experimenting with longer price projections. We will continue to appraise you of the results of that research, but currently we have made no definitive findings. It is our contention, however, that the convincing move below the nominal four-year projection by the S&P 500 and most of the other major market indexes was a clue that this market wants to go significantly lower. That fits in quite well with the research we provided concerning the CI-NCI Ratio earlier in this newsletter. / jim