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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (67227)8/7/2007 3:54:25 AM
From: shades  Read Replies (3) of 116555
 
Cramer worried about 7 million homeowners:

In some of his recent street.com videos he said fridays plea was only to show that he was worried about the 7 million people that may soon find themselves homeless - he was making a plea on their behalf?!? But that he doesn't expect the fed to save them and rates are going higher - now if the democrats come into office - why does he expect that? Who will win at the voting polls - max90 and friends that think high taxes and free healthcare is for losers? or zorro and friends that like social programs? Cramer is going to donate every dollar he has to help poor homeowners right? (doesn't he have a trust? - maybe he is worried about some unemployed Jose shooting him?)

Of $565 billion in subprime loans made in 2005-2006 (the worst years), a mere 2-3% of that has been downgraded by the chickens and sheep at Moody's, Fitch, and the S&P.

Cramer said the homebuilding industry is only 34 billion total - 1/5th the size of AT&T - that its collapse will not affect the economy?!? (hehe)

Although the asset side of the balance sheet seems pretty good, it is a complete illusion. The debt side of the balance sheet has never been greater. When assets take a hit (and they will), the debt will still be there acting like an anchor for years to come and/or until massive bankruptcies wipe that debt off the face of the earth.

My old pals from argentina and germany say there is another way rather than wiping the debt clean - you can inflate the money supply no?

No matter how one twists and turns, logic dictates that several major miracles as well as massive positive assumptions about those miracles would still not be enough to revive either housing or this economy.

Mish one of my redneck friends used to live in a small south ga town surrounded by a few other rednecks - but now Jose and family have moved in all around him - he tells me he would rather pay higher taxes and keep Jose and family pacified and happy than go MAX90 way and have Jose starving and pissed off so much that Jose come over to his house and shoot him and eat his dog - which choice would you make? Logic dictates that when one is surrounded by mad starving dogs - you do what it takes to survive eh? What do you recommend we do to pacify all the chaos that is potentially coming Mish so that you don't wind up like Custer fending off some pissed off indians? When is the last time you took a trip somewhere where everyone around you hated you because you were fed and clothed and had some wealth and they were starving and hungry and wanted to deprive you of such?

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