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

To: sixty2nds who wrote (72664)	12/22/2007 3:27:51 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Good question. I have no idea. But with all the illegal aliens cutting lawns, picking crops, in construction, building houses, etc etc etc, it has to be tremendously higher than even 10 years ago. I would guess it picked up big time with the housing boom in 2003. Mish

To: sixty2nds who wrote (72664)	12/22/2007 3:30:22 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Insurance from MBIA and Ambac Worthless globaleconomicanalysis.blogspot.com State and local borrowers are discovering that buying municipal bond insurance from MBIA Inc. and Ambac Financial Group Inc. is a waste of money. Wisconsin, California, New York City and about 300 other municipal issuers sold bonds without buying insurance in recent weeks, avoiding premiums that are as high as half a percentage point of the bond issue, according to data compiled by Bloomberg. Kiss goodbye any ideas that Ambac and MBIA will raise rates to cover losses. Both can look forward to declining revenues and rising defaults. Over time that will prove to be a lethal combination. Mish