Wow, that didn't take as long as I thought. Thanks. Yun, Paulson, Bernanke and Kudlow have all declared an end to the ginned up housing crisis scare. Their claims are unassailable. Recent declines represent nothing more than a reverse blow-off event with prices never to be seen again. Among the recent indicators they cited as causing this optimism are the end of the war in Iraq, the withdrawal of Hillary Clinton from the race and advance ticket sales for Elvis' comeback tour.
Roads have cleared, transit is paying for itself and the infrastructure deficit is being straightened out in ship shape Bristol Fashion. The Whitnall Freeway construction groundbreaking is imminent and the only arguments are whether the Purple Line subway go to the Promenade or the Courthouse in Santa Monica.
Carl Morehouse and Councilmember Fulton in a suprise joint declaration acknowledged the basic errors in planning for greater density and went so far as to admit global warming might not be the best idea they ever invented. The orderly transition will necessitate their resignations be delayed beyond April 1st.
My work here is done thanks for reading.
5 comments:
I hear Casey won the lottery and repaid every red cent yesterday.
He also gave G. a cool million and year subscription to Lunch-Dates.
He traded in the Jetta for a new 911 and has rented track time every tuesday from 2-5 for any of you who wants to go.
He is in the middle of buying NRU as a starting point to buy up as much of Sac distressed properities as the crash is over.
FIRST and foremost, it is all good..
Damn that Jamba Juice stock price is skyrocketing today. Is it money moving out of the Shanghi exchange, or is KC doing a hostile takeover?
Yeah, all that and I'm heterosexual. Really, I swear!! ;-)
I'm having a difficult time getting over the mother of all fool's rallies being held precisely on April Fool's Day. The irony is just a bit too much.
But wait until tomorrow. Congress calling in Ben Bernanke to ask him whether he and Paulson have been writing checks without Congress' signature. While I am confident that Congress considers the Bear Stearns bailout to be a necessary thing, handing out taxpayer money without going through the right committees is like taking food out of the dog dish while the dog is still eating.
Stock market rallies are common in countries undergoing rapid domestic inflation.
Realistically, the only way to "save" domestic creditors caught with worthless mortgage-based securites is to trade for public debt, which will require much more monetization than we've already seen.
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