Cognesceti & Cretinism

Barry Ritholtz has a must read that harkens to Fed speak regarding subprime & housing: Contain THIS!

"Amongst a certain contigent of mindless bulls, the blathering idiocy of politically motivated cretins, the cognesceti who have been clothing the emperor...

has been the mindboggling transparent bullshit that the fall in Housing would have no impact on either the economy or the markets.

If this is what contained looks like, I'd hate to see what will happen if this were to really unravel..."