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

To: Mike Johnston who wrote (75298)	12/11/2006 2:55:49 PM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

It is a huge driver of our economy underestimated in both it's scope and duration. People forget we are still in the early innings of the take back of that $100k+ 'gift'. One of the main reasons besides low unemployment, very low interest rates and easy credit conditions that consumer spending has been robust. Even on the foreclosure angle perhaps 1 in 400 is in some stage of foreclosure now so not a big deal overall. Eventually, perhaps within 3-4 more years I'd bet 1 out of every 40 will have gone through this process as we unwind the excesses..