FLU, no apology needed, just that it wasn't directed at me is enough. Like the other fiscal conservatives have expressed, I hate bubbles, they are counterproductive to good planning. In a perfect world housing would have gone up 5% a year, stocks and commodities too. It's the drastic swings up and down that screw things up, because despite what anyone says, equilibrium cannot be denied. Speaking of history, no matter how many books we read, everyone has to experience a bubble in order to spot one. I also experienced a meticulous clock cleansing in the dot com bubble and it was that lesson that served me well in the R/E bubble, hopefully today's bubble victim will see the next one coming and act accordingly.
Temeculaguy,
I whole hearted agree with you. I hate bubbles myself. And frankly I really hate all the fast money schemes that have prevailed in the past. And as I stated numerously, I think the governments stand on bailing out irresponsible people is going to cost a lot of us that were responsible, that does make me mad.
BUT, something that really set off my alarm bells recently (and call me a cynical bastard), governments don't tend to bailout individuals…they bailout institutions to avert crisis. And the way the government is reacting (perhaps maybe, and slight maybe an overreaction) to me is telling me that they are anticipating a tsunami. The people that got/getting wiped out on the RE imho are beyond saving at this point. What the Fed is doing now is starting the jeopardize those that are responsible (inclusive). Add inflation and a a recession in the mix, and those responsible folks sitting on cash who simultaneously loose a job, it isn't going to be pretty. The "payback" that some here have expressed (at least the way the current Fed is handling it) isn't going to be just a burden on those that were irresponsible. We're all going to get eaten in various shapes and form.
Personally, I'm increasing my cash reserves (started yesterday), and more assets have gone overseas on my wifes part (China, etc), and I have already started to hunker down in our household's own spending (even though arguably we don't need to yet).
SDR, I'm sorry to hear that you got rifted. That sucks. But I'm glad you found things, and hopefully things work out at your new gig. I myself have seen a dramatic turn this beginning of the year. End of last year, I had 8 opennings available in SD. All positions have recently been closed. That's right. tech workers here in SD take note. That's 8 less positions you will be able to move into this year. And I assure you, those were no "vaporware" positions.
Anyway, this somewhat humorous cartoon from the past pretty much sums up why I think some folks are in for a rude awakening.[img_assist|nid=6369|title=you_fired_he_fired_we_all_are_fired|desc=|link=node|align=left|width=466|height=177]
