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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (37069)	7/27/2005 1:45:45 AM
From: Mike Johnston	Read Replies (1) \| Respond to of 110194

Half the population earn their money flipping homes or selling on Ebay. That is not sustainable. Like i have said, it would be better to swallow the medicine now and have unemployment go to 10%, than wait and have the unemployment go up to 20%. Let all those people go back to do something that would benefit the society. In the nightmare scenario, if the bubble is not allowed to pop now and instead continues for another 1-2 years, we might be dealing with 90% drops in real house prices as opposed to 50% real drop. Under that scenario there would be major bank failures, collapse of the currency, 30 million+ foreclosures and 30% unemployment rate.