Monday, April 21, 2008

The San Diego Union Tribune - "Silver lining in the midst of more bad housing news" (4-19-08)

"
Buried beneath all the sour news of rising foreclosures and declining prices last week was a bit of good news for the San Diego County housing market: Prices have finally fallen low enough to achieve some semblance of affordability for potential home buyers. With the median price down to $385,000 – roughly the same as in summer 2003 – much of the frothiness of the Great San Diego Housing Bubble has melted away."

Option ARMageddon - "
Bring back the Gold Standard?" (4-19-08)

"It's time to confront currency disorder. Our goal should be to put forward a new proposal for international monetary relations on the scale of the 1944 Bretton Woods agreement, invoking the same sentiments that inspired architects John Maynard Keynes and Harry Dexter White to provide a foundation of hope for a world all too prone to violence. A global system based on a universally-accepted monetary asset -- the U.S. has the world's highest level of official gold reserves, followed by Germany and France -- would not only counter Russia's offensive. It would convert a national security threat into a golden opportunity."

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