Posted by Mike (WA) on April 25, 2010 at 15:40:28 from (69.10.196.7):
In Reply to: one more time: Gold posted by Hughb on April 25, 2010 at 12:13:43:
"not headed for a financial armageddon"- so we can keep increasing the deficit, forever, without consequence? How is that going to work, once the Chinese (who are the only ones with any money) quit buying our bonds?
The prices of real estate have marched upward, almost without a hiccup, from the '40's until 2007, and were a great investment during virtually all of that time period. But as pretty as your sister-in-law is sitting, I'll bet its not as pretty now as it was in '07. The old rubrick that "real estate can never go down, because they're not making any more of it" has now been proven wrong, by all the folks that are "underwater" in their property. Investment decisions have to be made according to the conditions of the present, not the rules of the past.
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Today's Featured Article - History of the Nuffield Tractor: Conclusion - by Anthony West. In the last piece I mentioned that Nuffield had reached the stage where they had chosen to drop the "Universal" from production. The two new models were given three figure numbers, instead of "three" and "four". Model numbers were introduced to help farmers and dealers instantly recognize the engine size and horsepower of the tractor, the 4/60 had a four cylinder diesel engine which developed 60 bhp at 2,000 rpm. The 3/42 had a 3 cylinder diesel engine which produced 42 bhp at 2,000 rpm. Th
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