You’ve been preaching to the choir. This shit was coming back in late 2003, early 2004. The Feds could have avoided this had they stopped lowering interest rates back in mid-2003.
We already had #38, for fuck’s sake. And searching EE and P&R for “Housing” or “Bubble” shows about twenty threads in the last couple of years.
That said, this is indeed one of the worst ones yet. Let’s see just how low the signal-to-noise could possibly go.
Or, on the other hand, we could all just shut up and read thehousingbubbleblog.com and Calculated Risk, both of which have vastly more real info than we could ever be bothered to post here.
Or, we could do that AND watch Dirt and Midnight Son circle-jerk each other into distastefully blissful oblivion.
I would just like to add that demeaning nicknames are possibly my least favorite part of the American political process, and that is a pretty strong statement.