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To: ~digs who wrote (42949)	9/21/2010 7:24:02 PM
From: Bucky Katt	Respond to of 48467

In land you can trust? Has worked for me... Seriously, I know a lot of people that have abandoned the stock market and all the clowns that go along with it and have been buying land when they find deals/terms they like. Of note, a few years ago we started a partnership that does just that. It is FBC #11, the FBC's being my partnership deals, most being markets oriented. Message 25271000 Message 24500924 Message 24677898 I remember my dad buying farms up in the Chicago ring back in the 1960's, with prices being in the $200 an acre range, including the houses barns, etc. You got/still get rent on the crop land, you got/get rent on the housing, you got/still get super low property taxes... At the peak, this stuff was going for $65,000-$125,000 per acre.

To: ~digs who wrote (42949)	9/21/2010 7:58:30 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 48467

What is your opinion of the >9% gain in the S$P this month? My feeling it is overbought, and looking for reason to dump.

To: ~digs who wrote (42949)	9/21/2010 8:16:03 PM
From: Bucky Katt	Respond to of 48467

Of interest> Ireland on Tuesday saw its borrowing costs rise, but managed to sell 1.5 billion euros ($2 billion) of government bonds in an auction viewed as an important test of sentiment against a backdrop of renewed worries over euro-zone sovereign debt. Monopoly houses on the river Liffey between O’Connell Bridge and the Ha’penny Bridge/Dublin. The amount sold was at the top end of the National Treasury Management Association’s range of €1 billion to €1.5 billion. Failure to hit the top end of the range would have been seen as a disappointment, strategists said ahead of the sale. Short-dated Greek and Spanish paper were also auctioned Tuesday. “A huge sigh of relief [is] being breathed in the wake of today’s auction results, the main focus being the issuance of longer-dated Irish paper,” wrote strategists at FxPro in a note to clients. Looking for competitive devaluations Could we see coordinated currency market intervention? It seems unlikely. Back then, everyone agreed to devalue the dollar. Now every central bank wants to devalue its own currency. This might be no bad thing. It would pump so much liquidity into the financial system it would kill off deflation. The euro /quotes/comstock/21o!x:seurusd (EURUSD 1.3295, +0.0040, +0.3018%) edged higher into the auction and remained up 0.5% versus the dollar at $1.3125. European stocks also rose. The average yield on the 2014 bond was 4.77%, while the average yield on the 2018 bond was 6.05%. That compares to an August auction for the 2014 bond that produced a yield of 3.63% and a June sale of the 2018 issue that produced a 5.09% yield. Bids for the €500 million of 2014 paper offered for sale exceeded supply 5.1 times, compared to a 5.4 bid-to-cover ratio in August. The €1 billion of 2014 debt saw a bid-to-cover ratio of 2.9, matching the June auction. The rise in borrowing costs was no surprise given recent market action that has seen yields on Irish bonds rise sharply on concerns over the cost of bailing out the nation’s banking sector. Yields saw a big rise late last week and the cost of insuring Irish government debt against default hit record levels on worries over costs associated with Allied Irish Bank. The cost of insuring Irish debt against default via credit default swaps fell in the wake of the auction. The spread on five-year Irish sovereign CDS narrowed 13 basis points to 425 basis points, according to data provider Markit. That means it would cost $425,000 a year to insure $10 million of Irish government debt against default, down from $437,000 on Monday. Spreads on other peripheral euro-zone sovereign credit default swaps, including those of Greece, Spain, Portugal and Italy, also narrowed. Earlier, Greece sold nearly €400 million of 13-week Treasury bills, with bids exceeding supply 6.25 times, compared to a 4.5 bid-to-cover ratio last week. Also, Spain sold €7 billion of 12- and 18-month T-bills.