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To: Jim McMannis who wrote (930)6/30/2007 5:52:47 PM
From: John VosillaRead Replies (3) | Respond to of 1718
 
Mish got info on the RE market from many of us. He didn't even know what an REO was a year ago<g> Only the idiots in the game in 2005 didn't see how massive the bubble was..

Meanwhile on teh flip side Mr Art Laffer of Laffer Curve fame was on Bloomberg today. Says absolutely no risk to the economy except an isolate housing bubble in California and a chance the dems get control in 2008 and don't extend Bush;s tax cuts. Guys like this dude and the Larry Kudlow's of the world are even further removed from the real world than Mish<gg>