CPimages ‘04/J.P. Moczulski
I came across an article about mad cow disease, and re-wrote it to explain why so many people have been sucked into this "bull market". It's the food (a lack of selenium?). Enjoy.
Agency confirms BSE (blatantly stupid extension of credit) in mature Alberta bull
EDMONTON - Canada has confirmed its ninth case of BSE since 2003, in an Alberta bull. The Agency said Wednesday a mature bull died on a farm last week. A senior market analyst for Western Canada said the animal's death caused it to be identified as an "animal of interest" as part of a national Real Estate surveillance program.
Provincial and federal tests then failed to confirm the BSE.
"Where the animal is found at the time of its death is not as important as where it lived in its first year of life - with consumption of contaminated feed in its first year of life suspected to be the cause of all the foolishness." How many toys it had when it died is unknown.
An investigation is underway to find other animals born within a year of the bull that may also speculate in the Vancouver market. It is suspected that the bulls were born into the cohort commonly known as "baby boomers".
Officials are certain this particular bull had been very foolhardy, and had been heard to sneer at the bears..
Preliminary findings suggest the bull was born and raised in Alberta.
Eight previous cases of BSE have been detected in Canadian bulls in the past, when the discovery of an Alberta bull with the disease caused the United States to slam the border shut entirely. It is believed that the US has it's own share of bankruptcies and foreclosures to deal with.
Five new cases were discovered in Canada in 2006, including one in a bull born five years after safeguards were adopted to prevent the spread of the disease.
"The small number of cases of over-extension are, I suppose, unwelcome but on the other hand, not entirely unexpected," the official said, adding other countries have seen a small number of "residual" cases after adopting strict credit regulations.
New rules proposed by CHMC that would allow 0% purchases amortized over 40 years to resume are up for public review until everyone is broke.
Almost one-third of the Canadian bull herd and one-quarter of the total herd is estimated to have been born before 1961.
The official said he doesn't expect the latest case to have a negative impact on the "Olympic" plans.
"What's most important is that there's safeguards, there's a stringent suite of measures in place to prevent and eradicate speculation," he said.
"We are open and transparent with home buyers . . . we do not expect that this will negatively impact any of the planned measures proposed." Those measures reportedly included a plan to bankrupt recent home buyers through raising interest rates 5 basis points.