Sunday, Sep 28, 2008
Paulson had it right. Embarrassing. We couldn't handle our buzz. We didn't know when to stop.
Seeking Alpha: The Secret Villain Behind Our Economic Collapse
"I think what made this bubble more powerful than most was the sheer magnitude of the people who benefited from it..Even the village idiot got in on the act. He went from flipping burgers to flipping houses..and that makes for great TV..This ecstasy feedback loop was particularly powerful because people weren't just making money. They were underwriting "the American Dream". Isn't that what it's all about? In that way, this bubble was stronger than the "dot com" bubble or the Tulip bubble. It was almost as powerful as a gravitational black hole..The few people who did sound the alarm sounded like party poopers." House Price Crashers
Posted by mountain goat @ 11:34 AM (432 views) Add Comment
3 Comments
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1. indiablue19 said...
Yes, but please notice, despite his initial investment the "village idiot" is about to lose all - including his home, job, and food supply. But the real perpetrators will own everything and have the "idiots" future taxes to pay for it.
2. mountain goat said...
3. Campin said...
if Nesara true or false then this is irrelevant.