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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (28209)	1/23/2008 2:10:23 AM
From: elmatador	Respond to of 218160

Americans have always been fond of the idea of getting rich without effort by putting their money in things that produce no profits and then magically being able to ride those investments, milking them for spending cash that supports a drunken spending lifestyle. From 1998 - 2001, that profit vehicle was, of course, dot-com stocks. From 2001 to the present, it's been housing. Never mind the fact that a house produces nothing real, earns nothing real and actually loses utility with each successive year of its existence (roof repairs, anyone?) -- Americans have been convinced over the last seven years that housing prices would rise forever, allowing people to simply extract money from their home equity as if their house were some sort of giant ATM machine.