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

To: CalculatedRisk who wrote (29525)	5/6/2005 6:42:23 PM
From: mishedlo	Read Replies (3) \| Respond to of 116555

Well he's done it. I didn't want to believe it, but it's true. Greenspan of course has transmorgified attractive interest rates of recent years into outrageously negative real interest for so long that he has nursed into being a virtual Godzilla of real estate speculation the likes we have not seen since Og traded a club and a mammoth skin for his friend's cave. Welcome to LA's housing nightmare. Well, what exactly did he do? Only destroy the American Dream for many, that's all. Yes, I know, I can always afford a house in Oklahoma, . . . [but] What I'm talking about are places on the coasts where a lot of people have no choice but to live and work. . . . When budding LA real estate tycoons in the making rapidly piece together, 3, 5, 10 residential houses at inflated prices, and then raise the rental rates, as what can happen in a difficult supply-demand situation in LA, not only does the entire cost structure of the rental market increase to the detriment of working people, but there are now fewer available homes for people who just need a place to raise their families. Result; rewarding speculators at the expense of everyone else. the rest here: safehaven.com

To: CalculatedRisk who wrote (29525)	5/6/2005 6:43:32 PM
From: mishedlo	Respond to of 116555

The utter absurdity of the intense attention paid to the minutiae of the FOMC statements was never more clearly illustrated than it was last Tuesday, when the Fed rushed to revise its previously-issued statement with a bare 5 minutes left before the market close. With the market sinking rapidly and the Dow down at 10208, the revision sparked the result apparently desired by the Fed—a 52 point jump in the final 5 minutes. the rest here: comstockfunds.com