Partypup: This has never been solely about housing. Housing was simply one asset class that was part of a much, much larger bubble. We’ve been playing fast and loose for 30 years now and the bill just came due.
A friend of mine that’s with NATO in Brussels was telling me about massive demonstrations in Paris, and unrest in Spain, Greece and Italy. This isn’t confined to the US and it looks like it’s just beginning.
You’re right to be scared. This shit is terrifying. I work in blast resistance and mitigation for oil/gas companies and the US Government (anti-terrorism and Force Protection). Sad to say, business has never been better and it looks to get better still.
I remember working with a SFC in 5th Special Forces who had a business card that read: “Our business is killing and business is good”.
