JOSEPH FOSTER

Looking for a Cause for Thursday's Sell-off? Blame Greenspan

ALL THE FINGER POINTING AT GREENSPAN AND OTHERS WILL NOT HELP.
I HAVE BEEN A REAL ESTATE INVESTOR FOR MANY YEARS AND NEVER LOST A DIME SINCE I ALWAYS GET OUT BEFORE THE BUBBLE BUST,
YOU SEE SIGNS THAT TELLS YOU TIME TO GET OUT, JUST AS I DID BEFORE THE NSDQ COLLAPSED.
WHEN I HEARD THE ANAYLIST PRIOR TO THE CRASH PREDICTING
THAT THE DOW IS GOING TO 20,000 THAT MADE ME SELL ALL OF MY EQUITIES 6 MONTHS BEFORE THE CRASH.
STOCKS ARE A LICENSE GIVEN TO COMPANIES TO PRINT PAPER MONEY. THEY ISSUE MORE AND MORE AND REWARD THEIR INVESTORS BY GIVING TWO FOR ONE ALL PAPER NO SUBSTANCE.
BIGGEST FRAUD OF THE CAPITALIST SYSTEM TO CORRECT THE FRAUD. COMPANIES SHOULD BE REQUIRED BY LAW WHEN THEY ARE MAKING HUGH PROFIT TO REWARD THEIR INVESTORS WITH CASH AND NOT MORE PAPER STOCKS

AS TO REAL ESTATE I BLAME THE BANKS AND THE APPRAISAL SYSTEM.
HOW COULD A BANK MAKE A LOAN TO THE SECOND BUYER WHEN
THE FIRST BUYER BOUGHT THE HOME FOR $300,000 ONE YEAR LATER IS SELLING THE HOME TO THE NEXT FOOL FOR $400,000
THAT SECOND BUYER IS NOW HOPING THAT HE WILL SELL THE HOME FOR $500.000 THIS PROCESS CONTINUED AND THE BANKS,
LOAN BROKERS, REAL ESTATE AGENTS WERE LAUGHING ALL THE WAY TO THE BANK.
BUILDERS USE TO SELL HOMES ON A COST PLUS BASIS, THEY DISCONTINUED THIS PRATICE AND STARTED PRICING HOMES BASED ON THE MARKET INFLATED PRICES.
I BOUGHT MANY INVESTMENT PROPERTIES FROM BUILDERS WHEN THEY WERE PRICED ON COST PLUS BASIS IN THE US AND UK,
WHEN I IMMEDIATELY NOTICED THE SHIFT FROM COST PLUS TO MARKET PRICE AND DISCONTINUED BUYING.
AFTER THE CORRECTION BY 2010 ANOTHER 6 OR 7 YEARS THE SAME PROCESS WHICH LEAD US TO THIS DISASTER WILL REPEAT IT SELF.
JOSEPH FOSTE UK AND USA.