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[Gene GeRue <genegerue AT ruralize.com>]

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.