mbborak

The Worst Is Over ... Again ... And Again ...

It is a shame that this kind of insight is confined to only the smallest corners of the US media, and that the constant flow of information and predictions from high-profile individuals is largely taken at face value rather than looked at with a critical eye. Case in point is the National Association of Realtors relentless spin of their data in calling a bottom in housing, while month after month (even year after year) their predictions are proven over-optimistic. Why do major media outlets still go to these sources for information and not simply write them off as the cheerleaders and PR spinsters that they are?


In reference to the preceding post, the author does not take into account the massive pyramid of leverage built on mortgage securitization, nor the knock-on effects on the overall US and global economy in his assessment of the total losses from the housing bust. However I do applaud his effort to put some of the rhetoric out there into numerical perspective.