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

To: bentway who wrote (28065)	3/11/2005 3:18:25 PM
From: JakeStraw	Read Replies (3) \| Respond to of 306849

If someone offers you a hand gun, or drugs, or whatever, you always have the choice of saying no...

To: bentway who wrote (28065)	3/11/2005 3:57:15 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Credit companies give credit to those who are not credit-worthy because it is profitable under our system which mis-allocates capital. In the sub-prime market, once a customer/victim has carried a balance for 4 or 5 years the loan has already been paid back and is in profit - even if the customer/victim files a Chapter 7 BK at that point. The monetarist system of subsidized over-lending in America creates many unhealthy and hugely costly situations. But it all goes back to John Law who did not believe money should be a store of value, but merely a medium of exchange. Today, disciples of John Law call themselves Monetarists or Supply-Siders. But let's hear the essential lie from the Master himself. "Money is not the value for which goods are exchanged, but the value by which they are exchanged. The use of money is to buy goods and precious metals while money is of no other use." John Law -- "Lettre sur le Nouveau Système des Finances, 1720" .