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

To: RealMuLan who wrote (55319)	8/24/2006 9:23:25 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 116555

<<Feldstein, who chairs the National Bureau of Economic Research, said a recession could occur if households made a ``decision to start saving again'' rather than keep spending as the housing market fades. >> vs. <<``Household savings is now negative and that was driven by the fact that house wealth was up and that mortgage refinancing was very, very appealing,'' Feldstein said. ``People took that money and they went and spent a lot of it. So if that goes into reverse, that could tip the economy.''>> So he thinks homeowners should try and eke out the last smidge of home equity with one final splurge before falling on their swords? Patriotism is such a fine thing!