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To: FromLori
"we went two trillion in the hole last year. Two trillion... "

Real estate appraisals were bogus since at least 2000. So the $2 trillion was always bogus.

So, if the $2 trillion never existed, it is not lost.

Too bad if a bunch of people spent like their house was truly appraised.

Since governments have been spending non-existent money for decades, we are just seeing a retreat to true value. Loans are being called.

What's the term? Mellonesque liquidation?

yitbos

15 posted on 12/30/2010 8:53:17 PM PST by bruinbirdman ("Those who control language control minds." -- Ayn Rand)
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To: bruinbirdman
"Real estate appraisals were bogus since at least 2000."

Real estate appraisals continue to be bogus. Maybe we should ask ourselves if there's a solution for that. What can we do to correct it and bring recorded values down to honest levels?


20 posted on 12/31/2010 2:00:24 PM PST by familyop (cbt. engr. (cbt), NG, '89-' 96, Duncan Hunter or no-vote.)
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