US economy turning?

Dennis Robert Redmond dredmond at efn.org
Thu Jan 3 15:54:53 PST 2002


On Thu, 3 Jan 2002, Jordan Hayes wrote:


> What do you make of the stat that housing prices went up 6.1% in the
> 3rd quarter when housing has "always" gone down in recessions of the
> past?

It's not just the US mortgage market; EU credit growth has continued to surge ahead at 8% annual rates. The global credit spigots are being uncorked, which is a good thing for us working stiffs. The chip biz also feels very bottomish right now, and even DRAM prices have started turning up.

My newly-minted stack of euros is on a brief recession and then a Long Boom, headquartered in the world's newest superpower.

-- Dennis



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