August 28, 2007 (LPAC)--A quick survey of financial wires today will find a daily dose of B.S. from those trying their best to be bullish as the markets crash, the credit dries up, and foreclosures mount, a result of former Federal Reserve chairman Alan "Bubbles" Greenspan and Wall Street's subprime swindle. Today's bulls:

* The global economy is "very healthy" and the credit crunch stemming from U.S. mortgage losses has "almost passed," Mark Mobius, who oversees $30 billion at Templeton Asset Management Ltd. in Singapore, declaimed. "We're pretty bullish," he said during an interview from Hong Kong. "Markets are probably going to surge ahead to new highs barring any other unforeseen circumstances." Maybe he's lost on a mobius-strip.

* Turbulent markets? No problem, according to Dominic McCormick chief executive at Australia's Select Asset Management, a so-called "alternative" investment firm. Speaking at a recent Portfolio Construction conference held downunder he turbulent conditions "create a higher hurdle for the underlying manager, to deliver positive returns, but given the expertise of some of the underlying managers and the niche strategies" high rates of return are possible. Market corrections and hedge fund failures, he sees them as a catalyst for improving returns. "These periods of market stress can actually provide the basis of better returns going forward," McCormick snorted according to InvestorDaily out of Australia.

* Last, if you're willing to bet on bears and lambs going to slaughter, you can make a, ahem, killing. Paulson Credit Opportunities, a $2 billion fund, bet against subprime lending and it has tripled, through July, its value, the New York Times reveals from a confidential source. Likewise, a small fund, Balestra Capital, bet against mortgage-backed securities and it is now worth $206 million, an 84.7% rise in its value.