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I have read most of this.
The argument seems to centre on a view that there are reasons for concern about the US economy and that this may lead to the Market going down. Rick has been the main one putting this view forward for which he has been ridiculed.
The contrary views seem to be primarily;
1. It ain’t GWB’s fault. He did not hold a gun to anyone’s head and force them to buy a house they could not afford.
2. Serves em right for being so stupid.
3. You made a dollar when the housing market boomed, now you are whingeing because that has stopped.
4. The sky isn’t falling.
5. Dow 15,000 by year end.
6. Economists know nothing and you must have failed econ 101.
7. The economy is fine.
8. The fed should cut interest rates and keep the party going.
9. It might be our dollar but if it is worthless it is their problem.
10. Inflation is under control - the Government says so.
11. The problem is confined to a few loans and banks.
12. America is committed to a strong dollar.
13. We have ways of defeating deflation. The printing presses are ready.
14. Its been good for twenty odd years now, so that will continue.
15. The Chinese are stupid. Hell they bought into Blackstone and lost a third or was it a half of their money already. They should revalue and then lose some more.
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