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Re: Feasible? How will it affect us foreclosure specialists?In Reply to: Feasible? How will it affect us foreclosure specialists? posted by Alfred -- Riv County, CA on April 16, 2003 at 10:46 AM : If anyone has the time to read this and respond, I'd be interested to know what you think about this prophecy and what we might be running into regarding foreclosures and real estate in general. : I just came upon this investment newsletter by Martin D. Weiss. Anyone ever heard of this guy? Below is a summary of the issue (I didn't include all of the statistics and documentation he offers to back up his prediction). He's listed 7 reasons why our economy and stock market will crash to very low depths before 2003 is over. He predicts that real estate will totally crash also. It seems to make sense... if his statistics are true. But it could also be a bunch of hooey (doom & gloom) used to sell his newsletter, books, gold or whatever. : "The bear market won't end and the next bull can not begin until these 7 situations have come and gone and there are no more hidden shocks to ambush investors. Washington is in an absolute panic to convince you that Wall St. is safe again. Why else would both Democrats and Republicans be hammering out one of the most radical economic stimulus packages in history? What do THEY see that you don't?" : Ticking Bomb #1 : Ticking Bomb #2 : Ticking Bomb #3 : Ticking Bomb #4 : Ticking Bomb #5 : Ticking Bomb #6 : Ticking Bomb #7 #1..Real estate bubble...Forbes Magazine had an article about this last year. Other real estate journals have said that certain areas of the market are overpriced and expect a correction. #2..Having seen what the market has been through..I seriously doubt a complete failure...Perhaps some more correction. #3..We bailed Japan out and rebuilt it after WWII..it will survive. #4..Probably more scandals and bankruptcy is on the way. #5..Fed controls interest..and money market...how can they bomb? #6..Yep, lots of banks got hurt and more will...collapse..I do not see it. #7..Oil is a finite resource..the sooner the world realizes that the better. South Africa has no oil, and no imports...they get all of their fuel from the coal gasification process. All in all I think a correction in the world economy is probably underway and may continue for some time. How you fare will depend on where you hve your $$$. --------->Bill
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