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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (85230)	9/15/2008 6:17:59 AM
From: axial	1 Recommendation Read Replies (1) \| Respond to of 116555

Mish, what's surprising about the whole mess is that the market and the dollar have failed to price facts that were known a year (or more) ago. So much for the market as a predictor. Every month or two, there's some new "surprise" with the attendant media flap, when the the failures have been long-forecast, here and elsewhere. Then there's some hokey "fix", the markets go up, the dollar gains more, and everyone heaves a sigh of relief: like everything's gonna be OK. There's more bad news in the pipeline, and every informed person knows it. What's going on? Denial? Lehman's bad, but it's hardly "news": you and others saw it coming. WaMu hasn't happened yet, but it will. Will everyone throw up their hands in horror again, like it's completely unexpected? There's been a BIG disconnect between long-known information and market behavior: the facts haven't been priced in. I don't know why. Jim