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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (29449)	5/5/2005 7:15:33 PM
From: orkrious	Read Replies (1) \| Respond to of 116555

It's when the realization hits that the Fed can't force the debt to grow any further, and the yardstick locks or even reverses, that things head south in a hurry. hmmm, you must read heinz...or I guess heinz could read you <g> worldmarket.blogspot.com

To: Perspective who wrote (29449)	5/5/2005 9:41:57 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

from richard on the FOOL Here's a little gem. I've watched it sell twice in the last four years first at $459K, then at $620K. Remember they aren't any more land. Especially in Santa Monica, CA where our city council will make sure of that. guests.themls.com BTW, this is six houses up from me. Richard

To: Perspective who wrote (29449)	5/5/2005 9:54:00 PM
From: mishedlo	Respond to of 116555

from the Economist (free part) economist.com The evidence is mounting that global growth has slowed. In America, output grew by an annualised 3.1% in the first three months of 2005, the slowest pace for two years. More recent figures, from weak retail sales to soggy consumer confidence, suggest this “soft patch” may be getting softer by the day. In Britain, the latest numbers—in retail sales and manufacturing—point to weaker growth. And in the euro zone, sluggish economies are looking ever more lethargic. Yet even as growth is slowing, price pressures are looming. In America, consumer prices rose 3.1% in the year to March, up from 1.7% a year ago. In Britain, inflation jumped unexpectedly in March. And in the euro zone, consumer prices are still rising faster than the 2% goal that the European Central Bank targets. But the modern remix still poses problems. Steering monetary policy when growth is slowing and prices are accelerating is never easy. It is particularly hard in today's unbalanced world economy, where too much depends on continued spending by American consumers who, in turn, are counting on an unsustainably frothy housing market. At some point, America's heavily indebted consumers will need to cut back spending. And when that happens, those in the rest of the world will have to start spending more to keep the world economy growing. The real risk is that Washington's central bankers will be too worried about stagnation and Frankfurt's too worried about inflation to allow that to happen.

To: Perspective who wrote (29449)	5/5/2005 10:49:06 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

8,353 licensed appraisers sign Web fraud petition Petition to Appraisal Subcommittee of the Federal Financial Institutions Examination Council The number of appraiserspetition.com petition signers surpasses 10% of the total 80,000 licensed appraisers in the U.S. "The ASC's (Appraisal Subcommittee) mission is to ensure that real estate appraisers, who perform appraisals in real estate transactions that could expose the United States government to financial loss, are sufficiently trained and tested to assure competency and independent judgment according to uniform high professional standards and ethics." - From the ASC website. The concern of this petition has to do with our "independent judgment" in performing real estate appraisals. We, the undersigned, represent a large number of licensed and certified real estate appraisers in the United States, who seek your assistance in solving a problem facing us on a daily basis. Lenders (meaning any and all of the following: banks, savings and loans, mortgage brokers, credit unions and loan officers in general; not to mention real estate agents) have individuals within their ranks, who, as a normal course of business, apply pressure on appraisers to hit or exceed a predetermined value. This pressure comes in many forms and includes the following: the withholding of business if we refuse to inflate values, the withholding of business if we refuse to guarantee a predetermined value, the withholding of business if we refuse to ignore deficiencies in the property, refusing to pay for an appraisal that does not give them what they want, black listing honest appraisers in order to use "rubber stamp" appraisers, etc. We request that action be taken to hold the lenders responsible for this type of violation and provide for a penalty on any person or business who engages in the practice of pressuring appraisers to do dishonest appraisals that do not provide for independent judgment. We believe that this practice has adverse effects on our local and national economies and that the potential for great financial loss exists. We also believe that many individuals have been adversely affected by the purchase of homes which have been over-valued. We thank you for your cooperation and assistance. -- That means that more than 10% of appraisers who know about this petition were willing to put their livelihood at risk by putting their name and address on a Web site to complain about pressure they are getting from lenders to commit felonies. Was your home legally appraised for your recent purchase or refi? Only your lender knows for sure. alwayson-network.com