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

To: sammy™ -_- who wrote (61675)	5/22/2006 11:11:52 PM
From: John Vosilla	Respond to of 110194

"..owning a house makes us all better citizens" Usually that would be the case. But we've done a total flip flop from being too restrictive in mortgage lending a little over a decade ago to where we've gone the last 3-4 years. Now the 'ownership society' puts you into debt slavery if you got in late in a bubble market or lived beyond your means on the 'refi' or HELOC bus. Pressure on citizens to stay above water and stay aboard the US consumerism gravy train will cause social, economic and political upheaval that was unnecessary if they'd just stopped these toxic loans and reckless speculation two years ago..