ZMV's

Zero Market Values are what you face when you traffic/ invest in non listed, over the counter, unregulated, unsupervised, leveraged derivatives, that are covenant light, bundled together, without research followings and are all for sale at the same time.

Stupid in, stupid out.

What is needed now are declared bankruptcies, to allow a more orderly workout of this toxic paper, higher interest rates to attract new buyers to assume more risk and new regulations (modified from what was put in place late last year) as the squeeze is on....

This debt/ credit crash is not a stock market crash. Investors should not confuse the two.....yes it can lower equity valuations, especially those public companies caught up in the mess, but it makes the blue chips even better buys.

The global economy is stronger than you think....Americans are all caught up in the housing, politics and doom and gloom. The global infrastructure play is alive and well and growing....just look at the new high list....and invest along side it.....that is what the smart money is doing.

As Warren Buffet says, "when the tide goes out you get to see who has been swimming without their swim suits.....and the tide is going out now and its not a pretty site."

This nonsense will continue for years because of the massive conflict of interest between the traders, broker dealers, hedge funds, commercial banks and private equity...avoid at all costs trying to make money here....there simply is so much more upside with less risk elsewhere. Once the failures begin, they will cascade upon themselves as they are all tied together. An RTC like new entity will be formed to aid in these multi year legal work outs, that will consume all the bankers, lawyers and accountants....just like the debacle at the beginning of this decade.

Housing is a great buy for those looking to upgrade. Start bidding on 5 to 7% municipal bonds and stay long the commodities they are going much higher. Especially Copper.

Danny Boy seen here is standing tall.