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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (39502)	8/29/2005 1:19:20 AM
From: John Vosilla	Respond to of 306849

<Mortgage backed securities are a nonproductive business. This is NOT the kind of thing you want to see in a good economy. The capital should have stayed in wireless networking where who knows, they may have invented something. The mortgage market sucked the money away.> It had no place else to go cause the wireless networking model was probably a loser for the next cycle too and the money went into the carry trade instead and the growing MBS's to fund the growth and appreciation of bubble market RE. Now that is gone IMHO and no new innovations to take the mantel over. Bush seems to think more wars and deficit spending might keep things going. Should Bush have used much of the money for research and incubators for next generation nanotech, wireless, biotech, alternative energy and climate control instead? yes IMHO.. They all keep talking about new more productive high level jobs and businesses to replace what is outsourced. Hasn't happened yet. For now many of us are wealthier than ever before and that by itself should help keep consumer spending from falling off the cliff as the paycheck to paycheck crowd and younger Americans finally feel the pinch.