Twitter: @wuhlax
Scratches to Sketches
Sunday 28 August 2011
Mish's Global Economic Trend Analysis: Obama Seeks Holy Grail of Housing, Proverbial Free Lunch, Gain With No Pain; It's Another Bank Bailout in Disguise
Mish is, of course, absolutely right as usual. There is nothing more dangerous than fantasy world programs for stimulating housing. If refinancing is to be accomplished it needs to be accompanied by debt forgiveness by the banks, say 50 percent refinancing and 50 percent debt forgiveness, plus alteration of the mortgage to secure the loan on the person rather than the property!
YOU HAVE REACHED WOOH'S STREAM
The Internet User's Best Kept Secret
Sketches from scratches is a provocative blogspot that has grown out of the Wuh Lax experience. It is eclectic, which means that it might consider just about anything from the simple to the extremely difficult. A scratch can be something that is troubling me or a short line on paper. From a scratch comes a verbal sketch or image sketch of the issue or subject. Other sites have other stuff that should really be of interest to the broad reader. I try to develop themes, but variety often comes before depth.
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