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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (2228)	6/19/2003 4:21:06 PM
From: Don Green	Read Replies (1) \| Respond to of 49607

Les "with virtually no yield on anything over there, why should it surprise them that people have to sell assets to have any kind of cash flow." Each day it is becoming more apparent that the similarities on what happened in Japan in the last 10 years and what is now occurring in the U.S. But I actually think the debt problem is worse here in the U.S. All of those refinanced mortgages will eventually come back to haunt the American economy, most likely because they greatly increased debt loads from those cash out mortgages.