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EXIT 2007: DENIALS & TONTARIA
Jim Willie CB
December 26, 2007

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Jim Willie CB is the editor of the "HAT TRICK LETTER"

http://www.gold-eagle.com/editorials_05/willie122607.html

some excerpts:

BOLDFACED DENIAL WITH YET MORE SPIN
The 2007 year started out reasonably calm, and ended with constant damaging storms in an utter barrage.

The real estate downturn was overblown. A modest correction took place, rendering prices more reasonable, taking the froth off the market, removing the speculators, bringing the system back to normal. What a crock!

The worst is over in financial firm bond loss writedowns, as the bank sector offers huge stock bargains. The stock selloff in bank equities is overblown. What a crock!

The USEconomy has suffered no spillover from the housing crisis and mortgage debacle. Never under-estimate the US consumer. Claims continue to flow in that the economy is resilient, its back is not broken, growth continues, and consumers are hanging in there. What a crock!

A USEconomic recession is not being indicated in the stock market, which is still an efficient market mechanism. The major stock indexes have held firm, withstood corrections and sudden selloffs. What a crock!

Gold is giving the wrong inflation signal, since the Consumer Price Index has yet to show any surge whatsoever. The rise in gold has no basis. What a crock!

CNBC has degraded in 2007 in its integrity, let it be known. The US financial news network has always served as a platform for Wall Street spin, blatant promotion. In 2007, in my view the network slid further down the slope of deception and basic pumping the propaganda.