Federal National Mortgage Association tanked big time tonight.
I'm just a simple technical trader, but the fundies say there are all sorts of bearish implications in this...particularly for the real estate market in the US.
I'm kind of excited because I'm SHORT!
MWAHAHAHAHAHAHAHAHA
markrmau
29th-September-2005, 07:43 AM
What happened here? Is there something in common with the hike in december gold?
Smurf1976
29th-September-2005, 12:04 PM
This could be serious if what the fundamental types have being saying for the past few years is correct.
In short, they've been warning that it was just a time bomb that would go off sooner or later along with a few others, most notably Ford and GM in particular. Also it's supposed (according to those who have been warning about this) to trigger a lot of movement in the markets in general. That's the markets by the way, not just the stock market, so there are implications for metals, bonds, real estate etc. too it seems.
I'm no expert on this. But this is the message I've probably read 100+ times over the past four or so years. Freddie or Fannie goes bust and then the stock, bond and real estate markets are all in big trouble. Looks like we might be about to find out if those analysts were right or not. :2twocents
RichKid
29th-September-2005, 02:37 PM
Judging by the previous falls on that chart the falling aint over yet. Good for you Wayne!
wayneL
29th-September-2005, 05:44 PM
Some relevant articles:
http://www.gold-eagle.com/editorials_05/willie011105.html (this one from Jan '05)
We know that one of the two (Fannie Mae and Freddie Mac) were cooking the books
They looked sus 2-3years ago and things don't appear to have changed much
Yes the gold-eagle links are where I have primarily based my opinion of these two companies
