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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: stevenallen who wrote (50956)	2/28/2004 2:12:05 AM
From: Lazarus_Long	Read Replies (1) \| Respond to of 57110

Excellent piece.

To: stevenallen who wrote (50956)	2/28/2004 3:01:04 PM
From: AugustWest	Respond to of 57110

Greenspan just touted the virtues of adjustable rate mortgages this week. (I simply do not understand why he would do this, even if his logic might be impeccable. He should not be encouraging risk taking and more debt.) In any event, do you think he would do that if he were planning to raise rates anytime soon? Despite the risk of a slowing economic recovery(which is IMO in the cards regardless), Greenie may have no choice but to raise rates Unless he wants a full blown colapse of the USDollar, period. I now have it on good authority that Alan Greenspan has decided not to seek reappointment as chairman of the Federal Reserve Board when his term expires in June..... ...On Monday, Greenspan added to his lengthening list of "not-to-worries" when he told credit union officials that the record level of household debt is really a good sign. Then, without provocation, he launched into a critique of the 30-year fixed mortgage, the foundation of the most successful housing-financing system the world has ever known, explaining how it cost consumers more over the long run than adjustable-rate loans. #reply-19859030