Thank god, there was no reason to panic! TB called it right!
Don't panic
Posted by TB on 12/6/2007 9:42:38 AM
I'm not convinced that our economic growth is being driven mostly by equity credit, but that's another subject.
As of last March, foreclosures were running at about half a percent of all loans (not just subprime ones). If every subprime mortgage where there have been late payments went to foreclosure (not likely), that could go as high as 2 or 3 percent.
This "crisis" is being sold to us by people who want panic. Remember, split the actual numbers away from the speculation and predictions.
http://www.habitablezone.com/currentevents/messages/492153.html
No crisis here- move along...
Just those damn liberals and their pesky habit of pointing out the problem...
AGAIN, TB WHY should we take you seriously...?
Tony was right...
"And if we don't alleviate some of the major effects of the consequences of that stupidity I think we'll have a hard crash."
http://www.habitablezone.com/currentevents/messages/492131.html