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Message| (85,227)    Roger Nusbaum submits: I have been thinking
about the inverted yield curve lately, and I have a theory about
how it could, ahem, be different this time. This is just a
theory and I am not making any portfolio decisions based on
this, well not now anyway.  The thing about an inverted curve
is, as you read everywhere, it indicates a slowdown, or worse,
is coming. The fundamental behind this is that lending money is
not profitable when the curve is upside-down. This inability to
access capital contributes significantly to the slowdown.  Enter
the HELOC, home equity line of credit. This obviously is a part
of the home-as-ATM issue that, rightly, concerns many. The
growth in HELOCs has been huge, and the yield curve for these
adjustable loans is still very positive. Passbook, money markets
and CD rates are in the fours and fives, while rates charged for
HELOCs are in the eights