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Non-Tech : Deflation -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (373)	11/4/2007 9:03:17 PM
From: Lazarus_Long	Respond to of 621

so there was no effect on inflation/deflation other than on things like petrol prices, which move immediately if not sooner. Over here they're quirkier. Sometimes they don't seem to move. Other times they move without reason. This makes the gasoline futures market exciting. :-) But other things move slower and house prices barely budge [in a few weeks]. Here, as I'm sure you've heard, they've gone nuts. Well, actually, it's not really hose prices that have gone nuts, it's the mortgage lenders. You wouldn't BELIEVE some of the nutty things they do with their own money to get you into a house. They used to make "liar loans" (you just state your income; they don't check) with no money down. Now: You're broke,you have no job. Some guy grabs you off the street and offers to buy some valuable asset for you which, if it goes up in price, you get to keep the excess over the loan amount; if it goes down, you just walk away with no damage except to your credit rating, which has already gone down the toilet. What would you do? :-) They are teachable, though, if sufficient pain is used. After getting stung a sufficient number of times and having some lenders go bankrupt, they've quit this. Mostly. :-) Gas prices? Stand by for a ram! :-)