> 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