Posted 2007-04-14 19:12
by Karl Denninger
by Karl Denninger
I RARELY plug someone else's work. After all, if you're going to do that, why write your own material!
But in this case, I believe you simply have to read this. And while I linked it in a previous message, some of you are going to miss it, and that would be a shame.
I'm going to unabashedly rip off one picture from the end of that commentary (fair use and all, since I'm doing it explicitly to get you to read the originator's work), which should illustrate why you need to read the whole article.....
Click the image folks and read what comes up.
This gent has illustrated, both in words and pictures, why, when you hear the talking heads saying "oh, housing is bottoming out", or "its not really going to get that bad", or any other such nonsense - you will understand - the speaker of those words is either lying to you intentionally or simply wrong.
But in this case, I believe you simply have to read this. And while I linked it in a previous message, some of you are going to miss it, and that would be a shame.
I'm going to unabashedly rip off one picture from the end of that commentary (fair use and all, since I'm doing it explicitly to get you to read the originator's work), which should illustrate why you need to read the whole article.....
Click the image folks and read what comes up.
This gent has illustrated, both in words and pictures, why, when you hear the talking heads saying "oh, housing is bottoming out", or "its not really going to get that bad", or any other such nonsense - you will understand - the speaker of those words is either lying to you intentionally or simply wrong.
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