Everyone better start buying.....I'm not looking forward to wearing bell bottoms and growing an afro!!!
the credit markets are still frozen.... I mean if the Harrah's bonds cant catch a bid... a FRICKIN Casino... near legal theft.... what chance does anything else have? an opinion and I could be wrong.........
A deflationary depression is a distinct possibility. We see credit tightening everywhere. U.S. depressions are caused by concentration of wealth and low liquidity. Lowering rates is pushing on a string if everybody wants to borrow but nobody wants to lend.
The problem is that if you are a certain age you cannot deny that you were alive in the '70's and by inference probably wore those clothes.................................
the rest of the world lent americans money to buy gold plated toilets, buy 60 inch plasmas and hire illegals to rake leaves... the jig is up... http://www2.standardandpoors.com/spf/pdf/index/CSHomePrice_Release_012900.pdf