Good question. Wherever he gets it, he certainly only looks at the things that can be spun into naive optimism.
There’s so much wrong with every statement he makes it’s not ever worth refuting.
Does anyone have any idea on the value of ARMs that have reset so far since this bubble started?
I wonder how the roughly $1 trillion in ARMS still to reset compares to the amount that already reset and caused the damage we’ve seen so far. Either way, I’d bet default/foreclosure rates increase.
