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To: Jim McMannis who wrote (174881)	6/23/2003 3:36:50 PM
From: The Duke of URL©	Read Replies (1) \| Respond to of 186894

The "2500" is in response to chackamunga's statement attempting to belittle the importance of derivatives by saying that since s/he had a personal stop loss of $2500 on his/her personal investment in some personal option, that all derivatives therefore, were economically not significant. My comment regarding his reference to this same stop loss amount, was meant to be disparaging as to his/her reasoning ability and thought processes.

To: Jim McMannis who wrote (174881)	6/24/2003 6:42:08 AM
From: Amy J	Read Replies (2) \| Respond to of 186894

Hi Jim & Thread, RE: "No one says much about all the tax breaks driving RE...besides, AG says it's "not a bubble"." When houses turn upside down (whenever interest rates eventually rise), the government could claim it's going to bail folks out by reinstating the capital loss write-offs for housing, which obviously also reinstates the capital gains tax too but in a politically correct way, right? Am I learning? "RE Bubble" In 1922, a new house cost $7k, but then (reportedly) it took 40 years before housing doubled in price. (Don't remember what the report said about housing between 1962-1972) Fast forward to 1972, where it (reportedly) took only 5 years for housing to double in price. And then (reportedly) it took only 10 years for another double (1977 to 1987). You know the rest of the story. In 1997, there was a house in Silicon Valley worth $750k, back before million dollar homes became the norm. The house next door to this one, is a bit smaller in both lot size & house size, but recently this neighbor house sold for $3M. Remember when Hollywood homes were essentially the only homes selling for $3M? There is absolutely no real estate bubble according to the Iraqi Information Minister. If inflation kicks in to pay off the govt's debt, what happens to the home owners of the floating rate mortgage types? How many mortgages are of the floating rate type vs fixed rate type? I read a blurb about taxing cash/savings assets as a way to get the saver/investor types (like me) to spend money. They wouldn't would they? I prefer shopping on Nasdaq than at the mall. Regards, Amy J