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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (36762)	4/1/2011 10:29:15 PM
From: robert b furman	2 Recommendations Read Replies (2) \| Respond to of 71479

Hi anismus, I do not believe it is as bad as you state. Several realities: Make no mistake, this crap was brought down by political lawmaking that extended loose,m repeat loose credit to mainly minorities who didn't own homes and had in general poor to lousey credit. Not only was credit extended,but it didn't require down payments or skin in the game. This was magnified,by collateralization,which multiplied the level of money available,to the point that property values were greatly inflated for years repeat YEARS. This does not effect the 35-40 % of people who own their homes. It does not effect the loans made for vehicles as standards were never loosened and used car values have actually climbed ever since December of 2008. If an auto loan becomes delinquent it can quickly be converted into cash as the auctions have a severe shortage of used vehicles. Credit card debt has been reduced by 25-30 percent,and has recently begun growing. There is a huge over supply of foreclosed homes. If you are a construction worker,electrician or plumber and build new homes,you will be long term unemployed - there still is the service sector of fixing used homes and commercial buildings. IBD today says the number of minority home owners has once again returned from the 13 % high to the historical norm. It must become clear that politicians helping constituents with false markets and funding created by legislation is errant and ultimately hurts not just those who it was intended to help - it specifically hurts them the most and all others as a horrible side event. There just is not a FREE LUNCH. The quicker they learn that - the fewer they will hurt! Let the free market work,as it has done us well for past generations. Bob