subprime a myth , page-3

Of course its not a myth, this very poor business model (subprime) has cost financial markets $billions ... BUT it definately is overhyped & being used by the media and others to create a climate of fear & uncertaintly.

This has allowed the big end of town to manipulate & "play" the market, facilitating the transferal of wealth to them.

Now it has become nothing other than a shakeout! Look at what Centro has done to our market the last few days! I mean its a joke! A few $billions debt of ONE company ... and how many $billions did this ONE COMPANY wipe off the MC of just BHP & RIO? ... never mind the other one thousand or so stocks that were smacked over the last 2 days!!

It is a joke ... and in that sense might be looked at as a myth! We might end up with another 2 or 3 "centro's" coming out & admitting poor debt models. We might see a few more shake outs here & there ... but its all now just an opportunity for cashed up entities to make money off the fear & uncertaintly that IMO is now being overdone, in fact almost manufactured!!

It is good though, because at some point in 2008 we will see a strong resurgance in the markets ... the crapolla happening now will make the next boom even more stronger.

Certianly time for caution, but the smart traders will make sqillions in 2008

cheers