just read Noland (Prudent Bear) report from last week
I skimmed a few paragraphs on Sunday
what a crystal clear mind he has, when building a summary
several points worth repeating:
- the telecom debt bust might provide a similar preview of what might happen to real estate, but RE will be more slowmotion
- the bigger the bubble, and longer the timespan for its expansion, the bigger the bust, the longer the dissipation
- the more fraud or stretched rules or grouping of worth with unworthy, as in RE, the uglier the resolution
- the entire banking foundation is slowly disintegrating !!!
(in almost every single facet niche, every single one)
- insurance companies are the other increasingly sick partner in finance, joining banks
- structured finance is mostly dressed up marketed fraud, or else a massive stretch of credit
- economic consensus is more wishful than well-founded, not based upon solid competent analysis
- 18 months after severe reduction in interest rates, and the economy is badly faltering, OY
- FannyMae's Franklin Raines (CEO) is the new mini-Greenspam, who will follow GreenDork into villainy
- the US Economy is an interconnected system of imbalances, distortions, suffering from colossal debt
- THE ENTIRE US ECONOMY IS LIKE A TWISTED PATHETIC LABORATORY ANIMAL GENETICALLY PRODUCED
/ jim
AI
