Karl Denninger: The Shills Are Still Shilling (Housing)
• Market-ticker.denninger.net/Bob Walters, chief economist of the online mortgage firm Quicken, acknowledges that the recent collapse will create a “mind scar” just as the Great Depression did. But he argues that housing remains unique.
Denny. What a slayer. I know some of you troll other sites like zerohedge and drhousinggloom and etc, but just reading Denninger and Mish, well, you get all of that in one massive power-packed punch.
No disrespect to Peter, but these two have absolutely DESTROYED the Austrian school in terms of accuracy and close-market predictions. Denny and Mish are really brilliant observers. And they all make for great entertainment! Schiffster is reliably entertaining, Mish is somewhat dry but with Denninger we get to see what a really brilliant man looks and sounds like when he's foaming at the mouth and raving like a lunatic.
There are just a handful of websites I try to visit every single day. One is Mish, globaleconomicalanysis.blogspot.com and Denninger, market-ticker.denninger.net. Denny tends to get way deep for my limited understanding, but like many geniuses, he tends to assume a higher level of cognition in his audience so you never get talked down to. You actually feel elevated like "wow this really smart guy thinks I'm smart enough to understand him" which makes you feel kind of cool because you know smart people.