Fair enough. My question / taunt is not really aimed at those your circumstance anyway. However, if you don’t think this is going to get very ugly in the next few years, then you are fooling yourself. The economic implications of this credit bubble are enormous. It goes way beyond housing. In some respects, I hope it doesn’t get that bad, but all the indicators point to some very nasty on the horizon. There will be severe credit contraction and ultimately deflation in hard assets such as RE and stocks. SoCal is subprime central in the US. This news about HSBC and NEW is finally real confirmation that it’s beginning to happen.
