On Thu, Apr 7, 2011 at 12:41 AM, Gruss Gott <[email protected]> wrote: > > All that money you (and all of us) made buying and selling homes > starting in the 90s was actually borrowed money.
The housing bubble started in 2001. I had 20% for my home in 2001 and went to pick one out and the prices went up 100k. I saved more and checked again and they were up again averaging $100k + a year > You used all that money to buy all kinds of stuff and we built an > entire economy around that flood of borrowed money (70% of our > economy!). Most of those people filed for bankruptcy and kept all their shiny toys. > Now the borrowing has stopped, except by the Fed. And soon enough > they'll have to stop. QE2 ends in June. The lending has stopped. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:336054 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
