[quote=capeman]Then they need to reevaluate what PhDs/MBAs from Ivy League business schools are worth. Since most of these fools in power who have them didn’t have the common sense of the armchair economist Bloggers who foresaw this. [/quote]

Oh, they knew. It just wasn’t in their best interest to be truthful about it. They aren’t that stupid.

Why do you think government tightened up the bankruptcy laws in 2005? Because they knew this was coming and wanted to make us debt slaves.

In our case; it *was* in our best interest to be truthful about it.

Edit: Think of it this way. If you speak the party line; you get very rich. If you tell the truth, you get fired. What would you do?