Clif Droke:
"Fundamental and technical analysts and financial pundits of all stripes are busy wracking their brains trying to analyze the deluge of negative news. Yet the single most reliable method of news analysis is being grossly ignored by almost everyone. The analysis I’m referring to is what I like to call 'Granville analysis.' Granville analysis is based on Joe Granville’s classic observation, 'The obvious is obviously wrong.'
It’s so simple to perform Granville analysis that anyone with a modicum of common sense can do it. Here’s how it works: simply make a list of all the bearish or super pessimistic news headlines concerning the economic and financial market outlook. Instead of taking these headlines at face value, make a cumulative index and add together all the headlines from the mainstream media that agree with each other.
Then apply Granville’s Golden Rule to each one. Each time you see a super bearish headline, remind yourself that everyone else already knows and believes this to be true and the value of commonly believed information is exceedingly small. Remember at all times Granville’s Golden Rule, 'The obvious is obviously wrong.'"
As are the parties listed in this thread's first sentence.
RELATED:
Have you read anything like this anywhere else?"Of significance is that the rate reset issue on adjustable rate mortgages is becoming less of an issue. The 6-month LIBOR rate, the index rate used for many subprime ARMs, has come down around 2.5 percentage points since last September, greatly reducing the payment shock on many ARM resets."
Meanwhile, over at Cone's, we have this particular gem of a comment by "Debra" who, if memory serves me right, is one of the more deluded commentors common to one of our statewide Nutroot network:
"Liquidity crisis? Recession? Market collapse? Bailout (socialism) of dumbass lenders?
Wait -- look over there!
Sex scandal!
Obama's pastor said something outrageous (that many educated and well-off black Americans believe, BTW).
Pay attention to the distractions.
Ignore the complete and total destruction of America by its incompetent leadership (Republicans, led by Bush) who are raping the Constitution and destroying our future by pillaging our economy.
Sex scandal!
Obama's pastor said something outrageous.
Keep your priorities straight, y'all."
WAY too funny and too obvious for further comment.....