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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: X Y Zebra who wrote (24962)	11/1/2004 5:59:47 PM
From: John Vosilla	Respond to of 306849

It sure will not help the USA get out of our current mess if low wage workers in foreign countries are able to purchase goods produced in China on credit. The biggest consumer on the world stage is now a slave to his mortgage and overextended credit card. A very severe recession taking down housing and auto industries down in 2001-02 would have given us all a chance to be in a real recovery. <it seems that the Ponzi scheme is being sponsored by the authorities, hence no chance of being stopped.second, the supply of potential borrowers, once the scheme is fully functioning, is far from being tapped out...I mean... those third world countries, with an unending supply of cheap labor (and future consumers to be granting credit to...) can make for some interesting offers for... zero interest credit payable until April of 2006>