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Subject:  Re: Time for a Few Small Repairs Date:  1/24/2008  4:15 PM
Author:  Lewis3556 Number:  27542 of 533

I don't believe ANYONE can forecast these days, even an educated guess.  We have never, even in Canada, been so world wide connected in every respect from who we buy from, who we sell to, where we travel, where companies buy raw materials, how it affects their overall costs and selling value where applicable.

 I totally blame the high priced idiots who loaned all this money to people with nothing down for houses, obviously overextended with other debt- paying one credit card off with another at 18% int. on that money.

When we bought our first 3 houses you had to QUALIFY for a mortgage, after they investigated your credibility, and put down a DOWN PAYMENT !  This house we paid cash for, tho bigger was outside Metro Toronto area, so much less.  Not today, want it and want it now is the philosophy.   Does anyone sit down and do cash flow check before saying "Can we afford it"   Cars had down payments and credit check and even getting a credit card meant a credit history check.

Think the U.S particularly has "gone to hell in a handbasket".!   What surprises me is how many people fell into this trap. 

I could not sleep at night if were in this situation.  No mortgage, no debt, but no company pension and am OK.  Mostly fairly conservative investments so am doing basically nothing, except maybe dump a couple of stocks that have not done well, or badly over 5-10 yrs and don't see a great future.

Just my perhaps ultra conservative outlook.  This will not be solved easily and don't feel bailouts for the companies that screwed this up.  As well fire all those responsible for these decisions!  Buy the booze and cigarette stocks, they should do well!

N Lewis   (Toronto)


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