'Why Is Bad Advice So Common?' - Mish

<blockquote>'Indeed. I have commented on this before. Wall Street does not generally get paid on funds sitting in cash. The second money comes in it is "put to work" earning fees, regardless of the risk-reward setup for the client.

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Deja Vue All Over Again

As Yogi Berra said "This is like deja vu all over again" with the same tired, disproved, "stocks are cheap" arguments. The worst part is investors are bombarded with such nonsense, fresh on the heels of a 80% runup in stock prices, in other words, at precisely the worst time.'

- Mish, Why Is Bad Advice So Common?, August 18, 2010</blockquote>


'Part of the blame for this goes to the bailout plan itself. France and to a lesser extent Germany would not take haircuts on Greek debt. Aid to Greece by the IMF and European banks simply threw good money after bad.'

<blockquote>How Long Can Greece Hold On?

Inquiring minds just might be asking "How long can Greece hold on?"

I do not have the answer to that, besides it's not the important question. A far more worrisome question is "When does similar strife spread to Spain, Portugal, and perhaps even Italy?"

Part of the blame for this goes to the bailout plan itself. France and to a lesser extent Germany would not take haircuts on Greek debt. Aid to Greece by the IMF and European banks simply threw good money after bad.

The problem did not go away. Instead, terms of the bailout made the situation worse.

- Mish, Greece Enters Death Spiral, August 18, 2010</blockquote>