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It not just another round of residential mortgages, but the sub-prime equivalent of commercial loans coming in for rate reajustments (balloon payments) next year that ought to pop any bubble. These are small to medium sized commercial paper taken on a short term (5 year) basis. Watch, wait, duck. FYI...manufacturing is picking up in semi-conductor machinery production. All sub-contractors (people who make the machines used by Applied Materials, Intel, etc) are picking up orders rather consistently now, globally and in the US. David ________________________________________________ Send list submissions to: [email protected] Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
