Deathbed Confession

What is one to think about a deathbed confession of an Army public realtions officer who happened to be in Roswell, New Mexico the day 60 years when ago an alleged “alien” spacecraft crashed.

He [Haut] saw two bodies on the floor, partially covered by a tarpaulin.

They are described in his statement as about 1.2m tall, with disproportionately large heads.

Towards the end of the affidavit, Haut concludes: “I am convinced that what I personally observed was some kind of craft and its crew from outer space”.

Especially when previously he had always played down the fact that there was anything other than an errant weather balloon involved.

What’s particularly interesting about Walter Haut is that in the many interviews he gave before his death, he played down his role and made no such claims.

Is Ocham’s Razor ever wrong?

So is this a practical joke?

If it left him with a smile on his face, well, I can appreciate the humor. Well done.

But if it’s not… as Count Floyd might say “Oooh scarrry.”

Realty Fealty
So how bad has this real estate bubble gotten anyway?

It looks like the big credit party might yet claim a few more victims.

That dose someone you know might have received from their REALTOR(tm) looks like to have spread into the hedge funds.

The doctors put Bear Stearns on a strict penicillin diet, until they can figure out if any more meds are needed. Frat bros are keeping a low profile while they see how their frienemy BS handles his treatment.

But some of the other attendees from the Wall Street ghetto are starting to look a little green around the gills. Sympathy pains? Hard to tell. But Private Equity‘s easy access to Ultra Low Low Low Eazy Credit(tm) might be over, and their hard partying march to the beach over the last five years may be delayed by more than a flat tire (*cough* Blackstone *cough*).

Even august institutions most of us didn’t know even existed, but are apparently for-real, have had to step out of the shadows and issue proclomations warnings.

And that can’t be good.

The Bank for International Settlements [BIS], the world’s most prestigious financial body, has warned that years of loose monetary policy has fuelled a dangerous credit bubble, leaving the global economy more vulnerable to another 1930s-style slump than generally understood.

“Virtually nobody foresaw the Great Depression of the 1930s, or the crises which affected Japan and southeast Asia in the early and late 1990s. In fact, each downturn was preceded by a period of non-inflationary growth exuberant enough to lead many commentators to suggest that a ‘new era’ had arrived”, said the bank.

The BIS said China may have repeated the disastrous errors made by Japan in the 1980s.

I guess the case for rampant fraud behind the housing bubble and slow deflation can be made, if more reports like this are reported throughout the nation.

”It scares me to death,” says Hogan, also managing broker of Coldwell Banker in Coral Gables. “Every time I go and give one of my presentations and there are 100 Realtors there and I say, `Has any one seen an offer asking for $100,000 going back to the buyer and 50 percent of them raise their hands . . . it’s that rampant.”



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