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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (373256)	3/9/2008 1:38:14 PM
From: tejek	Read Replies (1) \| Respond to of 1577986

On the crash thread, we saw that housing was WAY overpriced, that mortgages were flaky, that credit standards were debased - long before YOU, CRAMER and most pundits, but not all. We saw that this was going to cause a huge recession. Shiller was right there with us. I suggest you follow him rather than Cramer. Of course, Cramer saw last Spring that housing prices were inflated and that speculation was rampant. Like I said to you, if that was all there was to it, we would not be in the mess we are in now. At the time, things were going so well in the rest of the world he figured there would only be a slowdown, not a recession. It was only after the rest of it.....the ARM resets, the bad credit reports, the wholesale abandonment of good lending practices etc........that Cramer started beating the bully pulpit. It is true we didn't see the packaged mortgage problem and what follows - but who knew? We saw the underlying cause of the dominoes falling, and were prepared for the resulting clusterfuck. All you and Schiller saw was the speculation......like everyone else. I don't know how to get it through your thick head that the housing speculation is the least of our problems.