(this is a rush transcript)
JAllen: I am here today to discuss Hurricane Ike with four renowned bloggers, Mike Shedlock (Mish), Mr. Mortgage, Nouriel Roubini (hisssssssss!) and Patrick of Patrick.net. Thank you all for being here.
bloggers: (inaudible hrmrmennnfhr.)
JAllen: Let's begin with Mr. Mortgage. What do you think about this Ike?
Mr. Mortgage: This entire Ike deal is still bugging at me. So much, yet so little has happened in the past week my head is still spinning. Its like ‘whoa, did we just experience two of the largest hurricanes in the world (Ike and Gustav) amidst a web of potential fraud this week? Whoa, Whoa!’
Mike Shedlock (Mish) : A massive unwinding of Gustav is now fueling the Ike rally. This Ike is really deflationary. I mean there was massive speculation by Galvestonions shorting Gustav and going long Ike. That too is being unwound.
Those sorry bets were made on the misguided belief that Ike would decouple from the US.
Mr. Morgage: Mr. Mortgage here. Today I'm talking about the housing problem in Texas. There are literally thousands of people just walking away from their homes. They're underwater. I mean literally under water.
Nouriel Roubini : This is the biggest and most socialist hurricane since the formation of the Soviet Union and Communist China. Just as I predicted in 2006. This "Ike" would come.
Patrick : Now is still a terrible time to buy a house...especially in Galveston. It's still much cheaper to rent than to own the same thing.
JAllen: Well, thank you bloggers for being here.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment