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  • From: Don Bowen <don.bowen AT earthlink.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] The Usury Business, How To Avoid Going To Jail
  • Date: Thu, 02 Sep 2004 10:06:46 -0700

At 9/2/2004, you wrote:

There is some scuttlebutt about what could happen to Fannie Mae and Freddie Mac, both of them being goverment sponsored organizations or entities, as the overnight lending rate is gradually raised by the Federal Reserve Board. Fannie and Freddie have been in the news recently with various problems. The speculation is as rates rise and consumers can't afford to pay their increased payment on their adjustable rate loans (which have become more popular in the last few years), they will begin to default.

Rates will have to go up, Greenspan needs to attract people willing to lend the US more and more money. The ever increasing deficient is worrying many people, not the least of which are those who carry the debt and Greenspan himself. He sees the bushies stealing the Social Security Trust fund and sees the only way out is to renege on a promise he helped craft.

If you throw in a housing bubble that could soften or burst in various sections of the country (which would make houses worth less than current values), that could only make the matter worse.

The bubble may already be softening. The housing inventory jumped to a 6 year high this summer. The San Diego economy appears to be growing great guns until you look at the types of new jobs produced. They are in the service sector, the average new San Diego job pays about $14,000 less than the average job lost.

Don Bowen
Awl Knotted Up Woodworking
Valley Center, CA http://www.braingarage.com






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