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July 17, 2007

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www.BetterVillage.com

I have a feeling I'm going to be forcibly withholding "told you so's" in regards to the mortgage meltdown soon. It is widely being touted as a "subprime" meltdown, and empirically speaking, I just don't see that... I see the interconnecting threads from the greedy/fearful borrowers to the greedy/fearful end-user investors and providers of cheap credit. The poo-poo that I'm getting lately is: "relax the damage will be distributed over global markets and everything will be fine." Do you think so too? Do you see foresee the effects that our sputtering economy will have on our foreign relations? Can't help but think that we will be regarded as weak.

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