I think were turning Japanese
In spite of todays 290 rally, any belief that real estate is done going down
and that losses at banks and mortgage companies are at an end, is delusional. The sad part is that the "mob" is running the game... and I don't mean organized crime.. I am talking about the throngs of people who bought high and leveraged and in complicit actions by the govt are being supported. I fear we are turning japanese, and may be headed for a very long unwinding of the whole precarious mess. If so... great the longer a trend remains in tact the better. However the question remains... if its about "compassion" is it better to let the chips fall or pull the band aid off one hair at a time... Paulson is doing the pulling.