Re: Home prices falling faster - down 17% in February

On Sun, 11 May 2008 07:26:56 -0700 (PDT), Stray Dog
<straydog2008@[EMAIL PROTECTED]
> wrote:

> People are asking if this recession is going to
>> be more like the 230s or the 70s. Neither of those choices is small
>> potatoes.and totally ignoring the positive
>
>When I can read across a range of content in the media, including
>business media, and there is a mixture of good and bad news that is
>about equal, then we are not headed into a major disaster.

Not true at all. Most of these papers have vested interests in
propping up the systems. Ads from real estate for example have papers
saying the housing market is always at a good place to buy. The market
papers all need the ads of the brokers, banks and traders to stay
afloat.  There's a tremendous amount of pressure to display only that
side of things that benefits advertisers, or at pretending neutrality
by marching out only the most radical of critics and then ridiculing
and discounting them.
>
>And, I quoted from one issue of WSJ several examples.


By way of example watch this little video clip, Laffer vs. Schiff on
the Kudlow Business re****t:
http://news.goldseek.com/GoldSeek/1205727731.php
 from Aug. 2006. One predicted nearly exactly what has transpired, the
other went with the all is well and you're an idiot attacks. Guess
which one has not had repeat visits.

I've actually read a lot of the pre-1929 crash press too. It was
glowing and reassuring. "The fundamentals are sound". "The economy is
strong". 

Nah. You're wearing blinders. The noise these days is fundamentally
different from the usual "How to survive the impending recession"
nonsense that was always present. We now have nobel prize winning
economists and the best brains in the business saying "LOOK OUT!" But
that view doesn't pay the bills and it's be almost systematically
pushed out of the debate.