Thursday, 1 November 2012

One very good reason not to listen to this guy called Mike Norman

Having watched the "debate" between Karl Denninger (who makes sense) and a fellow called Mike Norman (who does not make much sense) on Capital Account, I thought I had seen the latter fellow's face somewhere before. And I am glad I found it. Here he is making fun of Peter Schiff predicting the end of the U.S. housing bubble. A very good reason not to take Mike Norman seriously and worth remembering if you ever come across this guy. Yes, many did not see the housing crash coming, but it was especially what I thought was his unprofessional attitude which got my attention. Fast forward to 50 sec if in a rush.

If you want many more reasons not to listen to this guy (apparently a Chief Economist), see the episode on Capital Account here, where he for example explains that the dollar is just an accounting entry.

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