Homestead mailing list

[Clansgian AT wmconnect.com]

> >Greenspan in his book informs that the Fed knew somewhere in 1999-2001 (I 
> forget the exact year) that a housing bubble was in the making,

Not only Greespan and the Fed but anyone else with half a brain knew it.  
Just as anyone now with a quarter brain sees that with the creation of all 
the 
fiat wealth (the promise of wealth to come because we dictated the money into 
existence) has made a generation of people who expect goods but do not expect 
to 
materially participate in creating them (why do that if you have 'wealth'?).

James