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

To: Knighty Tin who wrote (35584)	8/19/2005 10:40:49 AM
From: Tommaso	Read Replies (1) \| Respond to of 116555

I didn't even have an allowance, but the furniture at home and at all my relatives' houses was full of loose change. I guess that shaped my investment style [g] When all these bubbles collapse, the resulting chaos may hit people hardest, or at least first, who have been extended easy credit either because they are gullible or because of government directives aimed at preventing discrimination or aimed at helping people with lower incomes. I expect a great cry to go up for political and legal action against "greedy and irresponsible institutions." That ought to be just what the Democrats need for a populist issue. There seems to me no question that there will be many millions of homes lost to foreclosures or the threat thereof. In some farming areas in the Great Depression, bankers were murdered; maybe people abandoning their new houses won't feel quite that attached to them, but I bet the whole thing will be perceived as a kind of social warfare. OT: Most people hate the IRS, but I don't. They just audited my 2003 return and decided that I had neglected to include something and that it would cost me an extra $63. But in finding that, they also determined that another error entitled me to over $2,900 in refunds. There was a form asking me if I "agreed to this adjustment" of over $2,800 and would I "accept a refund." Gee, what a hard decision.