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

To: mishedlo who wrote (56849)	3/25/2006 5:21:27 PM
From: Mike Johnston	Respond to of 110194

I think most homeowners that stretched to buy into the bubble at its later stages realize that it is impossible for them to pay off the mortgage out of their wages. At 50% of net income, it is impossible over the long run. They were counting on appreciation to do the work. If prices only stay flat, they are in big trouble. God help them if prices decline.

To: mishedlo who wrote (56849)	3/25/2006 10:08:44 PM
From: shades	Respond to of 110194

Bankruptcy would be the only way out. Now general chen keeps posting a book about these folks all over the globe and all through history that vote in the people who are gonna be nicest to the debtors. That means people with big houses and lots of savings and wealth like you will see a fundamental shift in your taxes and such eh? Who do you think will have more power? A few rich pig men at the top? Or a mass of starving people voting in politicians that promise them the heavens? The new bankruptcy laws could do a 180 if the right politicians get into office eh? Kudlow told you - politicians - EVEN red elephants who squealed about less spending and less gubbment - have never seen a pork project they didn't like. They can't help it - they want to give the people any promise they can. Didn't Bush PROVE with his social security fuggup how the masses are gonna steer our country? Inflation and entitlements until it all blows up - fiscal conservatives will be hung.