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This is a short note just to say, Thank you. I appreciate your website and your contribution to the book "America's Bubble Economy."
About a year and a half ago, I stumbled upon your website by doing research on the Great Depression and its causes. I started reading your website and realized how so much of what is happening today is like the years prior to the crash of '29.
Then my 25 year old son, who with my help started his own landscaping business here in Canada two years ago, announced he had bought a house. His step-father's and my jaws hit the ground. We knew he didn't have the means to buy a house–his step-father and I had co-signed on a small business loan and a truck lease to help get him get started. Up to the time when he announced he'd bought a house we were still helping to float his business on occasion when his customers were slow to pay their bills.
I stormed into my local bank demanding to know, "What in the hell was going on when a 25 year old with no steady income can get a mortgage?" The bank manager told me that had been the new way of doing things for years but that she is now dealing with a mess of people on the brink.
I was stunned and began really looking at our world through new eyes. I sourced the book you co-authored and read it cover to cover. Years ago my husband and I had bought development land to someday build a retirement condo on. I picked up the phone and listed it immediately. I am happy to say the land closed last Wednesday. We both felt like Indiana Jones sliding under a falling door and getting through just before it slammed shut.
Despite our warnings, my son made a decision to go after the "big boy" builder accounts. I am sad to say my son just called to tell me a builder who owes him a lot of money is not paying. My son is now giving up on his business and going to work for another company.
Canada is no different than the US. Canada is always just behind what happens in the US.
In 2001, my husband and I lost all of our retirement funds because the tech bubble burst and an idiot financial planner advised us to stay in the market. We feel very empowered now by the knowledge you and others have provided. Thank you for bringing balanced information on financial tsunami that is approaching. I willingly paid a year subscription to your iTulip Select membership today.
Signed,
Ironlady
Dear Ironlady,
Thank you for the kind note and for the subscription. We are very glad that iTulip has been helpful to you.
We hope that we can maintain a reasonable record of accuracy so that we maintain your trust. So far our Housing Market Correction from Jan. 2005 has correctly projected housing market correction events A, B, C, and D in the US. Steps E, F and G are still to come. We hear from our Canadian readers that the Canadian housing market tends to lag the US by six months to a year and it appears that you are well positioned for a housing market correction there.
Best to you and your family,
The iTulip Team
iTulip Select: The Investment Thesis for the Next Cycle™
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