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

To: mishedlo who wrote (71478)	11/21/2007 10:57:53 AM
From: valueminded	Read Replies (3) \| Respond to of 116555

Mish/All: Given that the US is a 13 trillion dollar economy, I am having trouble seeing how mortgage losses would sink the economy. It just seems that the losses pale in comparison to the US wealth (44 trillion) and economy size. Something doesnt seem to add up. If the economy contracts by 7%, that represents about a trillion dollars, which seems to be far in excess of the writeoff numbers I have seen thus far. Thoughts ?

To: mishedlo who wrote (71478)	11/21/2007 1:37:44 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 116555

WASHINGTON, Nov 21 (Reuters) - Americans enter the holiday season in a dark mood, with economic worries, security fears and a lack of confidence in government fueling growing pessimism, according to a Reuters/Zogby poll released on Wednesday. Oh, no! Oh, dear! No! So I would not get to see people pummeling one another as the stores open at 4am, trampling over those who fell down and running like hungry animals to snatch their digital cameras or DVD players or video game or whatever sh** it is that they think are life's necessities, and then charging the purchases to their credit cards?! I am hoping uncle Benny cuts rates by 100 bps this afternoon. Come on uncle Benny! Please! ROTFL