Hi -

What we're watching is a housing downturn multiplied into an internationl crisis by leveraged CDOs.
It kind of resembles the chain reaction in a nuclear reactor during a meltdown.

Most of those CDOs and resulting leverage instruments originated right here in the US,
So what to do?

The best I can think of is for either Freddie Mac or Fannie Mae (I'm not sure of their legislative responsibilities)
to buy CDOs,
take out the toxic parts,
resell the resulting investment grade CDOs.

Resell other house at lower prices,
Sell the resulting CDOs.

Where houses can not be resold,
turn them into rentals under property managers -
result: employment in maintenance by construcion workers.

There were some who benfited from selling the toxic parts, and if they can't pay for the cleanup,
at least they should not benefit from it.

Elsewehere, there's goingo to be employment for construction workers in
transitioning to a post oil economy.

We have both domestic drilling, domestic drilling equipment manufacturing,
the construction of the next generation of nuclear electric plants.

Anybody got any other ideas?