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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (397657)	7/10/2008 12:31:49 PM
From: tejek	Read Replies (2) \| Respond to of 1575780

The dollar can recover fairly quickly....the recovery from a failed FRE and FNM will take a very long time. They are the backbone of our housing market in this country. They provide securitization. Without them, there is no housing market. Which is part of the reason the dollar wouldn't recover. We've talked about the great unwinding of the twin deficits many times on this thread. There was never any question IF it will happen, only a question of WHEN and HOW, fast or slow. Fast is very bad. FNM and FRE have little to do with the twin deficits. Its the war and pork. FNM and FRE are neither. In any case, you do NOT throw out the BABY with the wash. FNM and FRE are the BABY! Without them, the housing industry dies and then the US heads into a depression, dragging the rest of the world kicking and screaming with it. This fatalistic thinking where we have to be severely punished for past mistakes stems from your early religious[?] upbringing. Purge it.......it does nothing for anyone. Its time to think outside the box and get out of this mess.