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To: pogbull who wrote (4705)6/5/2003 9:02:02 AM
From: Jim Willie CB  Read Replies (1) | Respond to of 5423
 
housing socialism deepens
imagine tax credits for buying tech/telecom IPO's
how absurd
on a more massive scale, I see similarities to tax-deductible contributions to stock-based 410k's
fast forward a few years, and poof, a stock bust
this is an endgame characteristic
we are on course to a nationally sponsored bond bubble
we endured the bubble and bust for stocks
now we must endure it for bonds

given we are a debt-based economic system, I foresee the resolution of the endgame as ushering in a long period of very low growth or recession lasting perhaps a decade

FannyMae will rise and rise and rise
until it cracks wide open very suddenly
not for a while though
could be several months or even a couple years
all the housing risk is concentrated in this fat lady pig
so far this pig is balancing on a tiny foundation
in time, cracks will form in a more obvious manner
FROM GRAVITY

another signal that Fanny is ripe for the barbeque is that Asians are buying its debt bonds up in droves

/ jim