Mike Shedlock, aka MISH, is a great and steady writer. However, he make me look bullish for the most part. He does good research that I havent found many holes in, however, one time I asked him....what happened to the money that was created and lost, and his response was...the money never existed. I disagree. The counterparties are holding the bag. Lots of good hardworking, and for the most part honest people, are going going to take massive losses. Lots of people who intended at retiring at 62 or 70, or hell, 50, are going to be doing whatever they can to get by.
BUT HERE IS MY POINT. Sorry Mish, but when you have to get down and dirty, arguing with a critic of yours, on your Blog....it's a sign of a DarkWave (TM).
http://globaleconomicanalysis.blogspot.com/2009/07/emails-from-housing-hypocrites-about.html
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Insightful and Useful Comment!