Gotcha… I am on the fence on the issue. I am not sure I agree with Chris but I think he has keen insights into the financial world by nature of his profession and he is quite level headed, thus I believe his points were valid as I said.
I think that some of the contrarian views are important to the board overall. Whether I agree or disagree with them is not relevant.
Your analysis of the systemic risk factors at hand leads you to conclusions that are every bit as valid. I think the main thing that troubles me and makes me agree with you is that there is just this HUGE volume of resets remaining. It really is amazing that it is not the main topic of all the media stories we read. On the other hand I am getting concerned about these liquidity injections that seem to do nothing but mask the real issue at hand but yet pacify the market. Couple that with an election year next year and who knows…. I don’t know… it is scary and I absolutely agree there are fundamental systemic issues that I just don’t see a way out of… (which of course would portend a big stock market rally eh?)
