Greenspan says economy escaping housing woes

Reuters ^ | 10/26/06 | Alister Bull

[wagglebee]

The economy is on such a roll now that Reuters can't even ignore it.

[kinoxi]

Greenspan should remain retired.

[djf]

Can't help but wonder if Greenie himself has one of them there "non-traditional" mortgages?

[wagglebee]

FYI Ping.

[Petronski]

The economy is on such a roll now that Reuters can't even ignore it.

I wonder how this will affect someone whose tenuous grasp on credibility is based on an imminent burst of a "housing bubble," or someone who uses the interest-free credit card offers that stuff his mailbox to fund an empire built on trading gold on margin?

[wagglebee]

What would possibly make you think that?

[Unmarked Package]

I can just imagine the little wheels spinning in the heads of the economic editors in the Democrat Media trying to justify burying on page A17 this positive outlook from Greenspan before an election. After all, they figure, he is the former Chairman of the Federal Reserve and that makes his opinions irrelevant now...right?

It should be noted there are still some housing markets in the U.S. which have not exhibited declining sales thus far. For example, the property sales in the greater Houston market have reached a new year-over-year record for 32 consecutive months now.

[wagglebee]

After all, they figure, he is the former Chairman of the Federal Reserve and that makes his opinions irrelevant now...right?

It's funny how the left decided that Greenspan was incompetent on January 20, 2001.

[wagglebee]

But I thought that I was supposed to put my house on the market for what I paid for it five years ago, ignore the equity, give up the tax benefits and rent an apartment (even though the rent would be almost as much as my mortgage payment)./sarcasm off

[Petronski]

And buy gold. Gold! GOLD!!!

[wagglebee]

That's where I get confused. Since I won't have anymore equity, do I cash in my 401K and IRAs and take the tax hit or take cash advances on credit cards to buy gold>

[Petronski]

Use the free cash-advance credit cards to trade gold on margin, and be sure to always buy at the bottom and always sell at the top.

Then you just can't lose!

[wagglebee]

So, I should get about a dozen or so credit cards, max them out and then get some more cards and take cash advances on them to make the minimum payments on the cards I maxed out to buy gold?

[Petronski]

Definitely!

Because, remember: you're going to be buying at the bottom every time, and you're always going to be careful to sell at the very top. With technical analysis, you can't lose!

Margin fees be damned! Commissions, carrying-costs, be damned!

[Fan of Fiat]

Remember, as long as the price of gold does not drop below the green line, it will not drop below the green line. Making bank with gold is EASY!

[wagglebee]

Remember, as long as the price of gold does not drop below the green line, it will not drop below the green line. Making bank with gold is EASY!

And remember how easy it was to make money on silver in the late 70s until the Hunt brothers screwed everything up by missing their margin call. I'm thinking of pouring all of my money into tulip bulbs, after almost four hundred years, that market is bound to make a huge comeback.

[Toddsterpatriot]

Margin fees be damned! Commissions, carrying-costs, be damned!

Exactly. I saw a scribbled chart just the other day that made me want to buy gold (and pay $18 an ounce on trading costs) and a cute cartoon that proved even the angels are pulling for gold.

[1035rep]

WOW! And to think I almost sold everything to buy gold :)

[Torie]

I suspect the maestro crunches numbers the way I do. :)

[Petronski]

I've consulted all kinds of internet resources, from Wikipedia to ASM International, but I cannot find evidence to contradict my original understanding: pure gold is not magnetic.

ROTFLMAO

**snort**