Steve, Did you read any of Greenspan's comments from today? Things like, "Banks are positioned to benefit from higher interest rates." He's coming right out and saying that they have all the sheeple right where they want them, hocking their homes with interest-only variable-rate HELOC's in order to pay off credit cards and then going back out and charging up the credit cards again. Think about how we trade: when something gets to an extreme, it usually turns the other way. Well, home ownership in the US is at an all time high. I say it is about to turn the other way. As the interest rates go up over the next few years, foreclosures are going to go way up. The banks have been pissed off about all the bankruptcies that they have had to write off and have now found the perfect way to get that last asset that they never could touch, the home. For you and anybody else who reads this post, get out of debt, especially credit cards and these interest only variable rate loans, although, I suspect that most people who participate here and in trading in general aren't the same ones who are hocking their homes and lives to eat at Red Lobster and go to DisneyWorld.
There ain''t no such thing as a free lunch-Robert Heinlein
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