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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (9784)	3/9/2004 10:31:53 AM
From: Knighty Tin	Respond to of 110194

Russ, the really sad part is that we had this lesson in history. Reagan did the supply side deficit deal, and he caused a huge bubble in Japan, not that the Japanese didn't do all they could do to help him. However, for most of the time, Reagan had a conservative Fed Chairman. Only after Ronnie's profligate spend but don't tax policy blew up in late 1987 did he hire a Fed Chairman who would print to save him. Bush doesn't have that luxury, as the Fed Chairman started the bubble this time and the President just added to it.

To: russwinter who wrote (9784)	3/9/2004 10:42:01 AM
From: ild	Respond to of 110194

Countrywide bubble continues: * Loan fundings for the month of February grew by 13 percent over the prior month to $23 billion, despite a shortened 19 working-day month. Average daily fundings of $1.2 billion grew by 19 percent over January 2004. Loan fundings were down over February 2003 by 25 percent, in line with expectations. * Monthly purchase fundings of $9 billion were up 39 percent over last year, and exceeded January 2004 volume by 5 percent on an average daily basis. * Demand for adjustable-rate, home equity and subprime loans continued to be robust. For each category, average daily funding volume reached record highs. -- Adjustable-rate loan production of $10 billion was 9 percent greater than the prior month, and accounted for 44 percent of monthly fundings. Average daily funding of $542 million was 13 percent greater than the prior record of $480 million achieved in September 2003. -- Home equity loan fundings grew by 5 percent over January 2004 to $1.6 billion or $86 million in average daily funding volume. -- Subprime volume of $2.1 billion was an increase of 6 percent over the prior month. Average daily funding volume of $112 million was 5 percent higher than the prior record of $107 million set in November 2003. biz.yahoo.com