Dusty

Financials Have Bottomed? Readers Say We're Nuts

Credit Suisse published a chart last winter that says it all. "Subprime" mortgage resets all Spring "08. High (compared to 'normal') rough intermission this Summer. Fall '08 (Sept 01 through Dec) mortgage resets go back up to the levels of the Spring; the name changes to "Alt-A" added to "Agency Resets." The Fall drop will be as much as the Spring drop. How about chuck holes in Aug and Oct similar to the ones back in Jan and March?

Market bottom best guess as a Chinese New Year gift but there will not be any real Bull Recovery for two or three years. Target Summer of 2012 for the beginning of really better times.

Game plan is to do what presents itself in short time frames and also look at dividend accumulation.

Historic Financial Collapse Underway?

The hue and cry about how evil the "Fiat" currency is ignores reality. A century or slightly more ago all money WAS gold or silver. Coins made of the real thing. A small amout of paper representing the real thing in government storage. Already there was not enough to go around. There was no way to increase the supply of the comodity and people did not have the cash to pay for goods and services or to be paid. The will to do work, the manpower, the goods (as in wheat, meat, manufactured products) were there: there was not enough coin or currency to conduct commerce and barter only goes so far, too. The only answer then and even more now is "Fiat" money.