Tom, thanks for all the work on the Bull/Bear cases.
I personally enjoyed the Bear analysis.
This time reminds me more of late 1998 with LTCM/Russian Bonds default/Asian Tigers meltdown, when the day was saved by Unkle Al, with that mid session rate cut and the pumping went on, and on, all the way through Y2K and the Top.
Now, the market is falling out of favor with the masses.
Housing is IN.
Question is: can Unkle Al keep the Housing Bubble going to prop up the economy, or are we beginning the Japanesque deflationary death spiral. They had a nice real estate bubble, too. Market down first, then real estate.
I saw Unkle Al and the PPT boyz at work late July, at the Turn 7/24. How much do they have left. Suppose it's up to us consumers, again. Get out there and refi, dammit,gggggg
James |
