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Subject:  Re: Putting the housing downturn in perspective Date:  3/15/2008  10:13 AM
Author:  TDRH Number:  35565 of 501

     Mandrake,  good points all.   I was concerned about the rate of foreclosures at relatively low unemployment and interest rates.  "This being the tip of the iceberg" as you say does bring up the question "what will be left standing".   Maybe I am naive, and do not understand the complexity of the pontential  financial collapse.

     As for oil, in the last few weeks many of the talking heads have been anticipating a sharp correction in the price, but it has not happened.   Some say this is peak oil.   I am not qualified to say either way, but I would not be surprised by $125 or $150 oil due to some political event or a series of smaller events.   Chavez's sabre rattling is good for a 10-15% rise, imagine 2 or 3 instances like that at the same time.

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