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  • From: Gene GeRue <genegerue AT ruralize.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Perfect Storm
  • Date: Tue, 10 May 2005 14:29:18 -0700

I should add that much of what high finance mavens do seems unjustified and even dangerous to me. Our current and thankfully temporary president has an MBA. Yet he has fought hard to cut the nation's income, increase its expenses and enlarge its endebtedness. His perspective is that of the rich man who knows he has assets beyond what economic fluctuations might erode.

As for the business of people refinancing their homes to buy consumer items, for the most part I think it is not prudent. But that's their business, they are doing it, and the economy is thus far positively affected by the many who continue to do it.

Life has few certainties. In some ways it is a bit of a crap shoot. While I believe in the use of leverage in investing, it carries risks, especially since jobs have become so unreliable. Each person should educate themselves thoroughly in any endeavor in which they participate.

Rob and I had a private exchange on these matters. I advised him to watch what rich and powerful people do. You can be sure that the Bush family and other wealthy families have no intention of jeopardizing their wealth. Until someone shows me how sinking the USA into bankruptcy would benefit the increasingly large class of the rich and powerful, I will continue to believe that the DC Whorehouse and customers will protect business. I acknowledge the possibility that this unsophisticated farm boy may well have overlooked something.






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