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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Don Green who wrote (71905)	10/13/2006 2:19:46 PM
From: benwood	Read Replies (1) \| Respond to of 110194

Don, you spoke of denial. Bubbles are formed with the vast, stealthy assistance of denial. Someone, something, or some event becomes the catalyst for the truth to emerge. So Mish's blog was that bit that finally helped them see the light, and I think that's great. There was widespread comprehension of the NAZ bubble, yet that was nothing compared to the denial and euphoria of the stampeding herd. Many were hurt badly at time, and ditto this time. Yes, there have been far more headlines and articles this time about the real estate bubble, yet basic human nature says that those in denial will simply turn the page. My own sister informed me 12 months ago that she was ready to become a flipper, making easy profits in six months, she claimed with a gleam in her eye. Most people do jump in at the top, you know, after 1000 warning articles have been written by those party pooper, disgrunted, bitter, America-hating bears. Or so they think. Like alcoholism, those that have gotten in deep will likely be crushed before they will start the process of coming to terms with what has happened. The two daytraders I knew personally in the '98 to '01 timeframe made money hand over fist and then were absolutely crushed before they stopped. For both, the reality didn't set in until well after they were financially ruined. Same as death and dying -- it can be a long and painful process. For one, it broke up his marriage. For the other, he had to sell his waterfront dream home (he lost all of 13 million dollars and then some). I doubt Mish writes just for that gratifying support from readers. But he's a brand of writer that I admire because, in my view, he advocates a long term view rather than a short term pump and dump or sugarcoating or outright fantasy view which is mostly all that I've heard in the past 12 years. And in the face of poor decisions, what's a person to do? Legions of people really do not know at all. Most of my friends and family truly do not have a clue, and they never will evidently.