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To: Agamemnon who wrote (218947)2/5/2003 12:51:33 PM
From: reaper  Read Replies (1) | Respond to of 436258
 
if real estate and stock accounts were 'cashed in' then prices on the remaining stuff would crater. but the debt would still be the debt. this is where all the analyses of "net worth" fail -- the 'asset' value is nothing close to liquidation value, but the debt values don't change.

ask some energy trading companies about this dynamic <g>

Cheers



To: Agamemnon who wrote (218947)2/5/2003 1:03:32 PM
From: patron_anejo_por_favor  Read Replies (1) | Respond to of 436258
 
<<Roach arguing budget def. doesnt have saving cushion>>

This is obviously a key point...if people living on the edge with lots of obligations and no savings loses their jobs, what happens to foreclosure rates and marginal purchases? That's why our recession will be longer, deeper and more painful than the Japanese post-bubble environment.


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