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

To: ild who wrote (61633)	5/22/2006 3:56:52 PM
From: ild	Read Replies (1) \| Respond to of 110194

Date: Mon May 22 2006 13:33 trotsky (@deflating real estate bubble) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved "Former Federal Reserve Chairman Alan Greenspan said the five-year housing "boom is over," though prices won't fall nationally. "We're not about to go into a situation where prices will go down," Greenspan, 80, said in response to questions Thursday evening at a reception in New York hosted by the Bond Market Association. There is "no evidence home prices are going to collapse." " that sort of cinches it. we can now be absolutely certain that the worst collapse in house prices in history is about to commence. this is the housing bear market endorsement of the decade - Greenspan predicting hat prices 'won't collapse'. the guy has a worse forecasting record than even the average mainstream economist - his total misses are as countless as they are legendary ( it all began when in January '73, two days before the stock market topped out, he prononced that 'there is no reason to be anything but bullish'. the market then proceeded to collapse by 56% nominally over the next 18 months, equal to about 70% in real terms at the time ) . sun-sentinel.com