“Bugs – this is part of the banking game – create a bubble in some asset class, profit on the expansion of that bubble, then when the bubble pops profit on the deflation – Goldman will get lots of business (and fees!) from anxious clients wanting to reduce their exposure to CA real estate”
This is the same game played back in ’99-2000 with equities. It’s taken the better part of a decade for me to begin to see the forest for the trees, but it is very clear to me now what has been going on.
In my opinion, the true origin of this was in October 1987, when I was only in my second year of High School at Lincoln-Way High in New Lenox, Il. It’s taken twenty years for this to come full circle but it is happening.
I think all of the true Piggs should really be discussing how to take advantage of this if possible. I think there will be opportunity for those who were prescient enough to see this coming. The key will be survival first and opportunity second, but I don’t think that it is impossible.
