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To: Jon Koplik who wrote (138522)	7/12/2005 1:51:40 PM
From: Mike Torrence	Respond to of 152472

"My calculations keep leading me to a 10-year bond rate of 7 percent, and a mortgage rate of 8.5 percent - with a substantial possibility that the numbers will be even higher. Current rates are about 4.3 and 5.8 percent,respectively; you can see why the I.M.F. is worried about "financial market disruption." Today rates are 4.126% (10 yr. bond) and 5.51% (30yr fixed rate mortgage). So Krugman is not only wrong about significantly higher rates but rates are actually below where they were when he wrote this ridiculous piece of tripe over a year ago. And that's with an economy in which unemployment is down 16% and in which 2 million new jobs could be created this year. "Banana republic" my butt, more like "banana economist".