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<p>[QUOTE="V. Kurt Bellman, post: 2914259, member: 71723"]Actually, we do know a good many things. For one, we know that the Federal Reserve doesn't have the authority to "prosecute" anyone. We also know that the idea that a stout return on essentially no-risk savings was counter to the public interest and the mandates put by the Congress onto the Federal Reserve, INCLUDING promoting full employment, but NOT INCLUDING making sure savers get paid well. Annnnd we don't have to wait for our kids to be shafted by owning real estate. That's already been happening for 17 years now. I have an ex-wife (and mother of my son) who was driven into bankruptcy because she bought into the "myth" of home ownership as an investment. She's now 5 years post-bankruptcy and the house she bought in 2000 is STILL "under water" compared to what she paid for it.</p><p><br /></p><p>Yes, she DID buy in at the very peak of the biggest residential real-estate bubble of my lifetime.[/QUOTE]</p><p><br /></p>
[QUOTE="V. Kurt Bellman, post: 2914259, member: 71723"]Actually, we do know a good many things. For one, we know that the Federal Reserve doesn't have the authority to "prosecute" anyone. We also know that the idea that a stout return on essentially no-risk savings was counter to the public interest and the mandates put by the Congress onto the Federal Reserve, INCLUDING promoting full employment, but NOT INCLUDING making sure savers get paid well. Annnnd we don't have to wait for our kids to be shafted by owning real estate. That's already been happening for 17 years now. I have an ex-wife (and mother of my son) who was driven into bankruptcy because she bought into the "myth" of home ownership as an investment. She's now 5 years post-bankruptcy and the house she bought in 2000 is STILL "under water" compared to what she paid for it. Yes, she DID buy in at the very peak of the biggest residential real-estate bubble of my lifetime.[/QUOTE]
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