For many people, if they don’t laugh, they will cry. Billions/Trillions of perceived “wealth” has disappeared. We are a nation of millions walking around like zombies, many people are insolvent, just like the banks, and the govt, but unable to accept it, wanting to believe that if they just hang on it will come back.
The post 2002 inflating bubble was at first a documentary, then it became a comedy, then it morphed into a drama, now it has turned into a horror flick.
For about 5-6 years I have warned many that this was going to get really, really ugly, long before the peak and before I discovered Pigg’s. I didn’t realize that there were a core group of folks that also understood what had happened, I truly thought I was alone.. so many just didn’t want to listen.
So many people in the industry were clueless, it was incredible, thinking that they were real estate “professionals”
As many on this site, I laughed at the flippers that were talking about being serious “investors” and I sat on the sidelines trying to figure out when the madness would stop.
That was about 6 trillion dollars ago, measured by the national debt.
I truly wonder if the stock market/investment/401K industry is really any different ??
Everyone is an expert but is surprised by tomorrow’s market activity.
It’s a pyramid/ponzi/madoff scheme that will work until it doesn’t work anymore.
When the average person loses confidence, the game is over. Time to put the balls away, pack up the uniforms, turn the lights out and get on the bus in search of a new venture.
