PS, the best way to handle this is what you have done, be honest and humble. There are others here that were way off as well.
Those who say “How would I every have know the gov’t would intervene” are still missing the point.
There really isn’t a totally free market. Those who control the money have significant influence. So a person does not need to know exactly what form the “event” will be that changes their free market prediction. They only need to know the people who control the money will act in a way that continues to make them money, in whatever form/business is necessary. So any posts I see that say they couldn’t see something coming still don’t get it.
So this time for a credit/housing problem it was gov’t intervention and now some financial institutions are showing record profits. Next crisis will be some other unforeseen event.
Any theory that relies on “free market” to force us into chaos is either going to be completely wrong, or if it ever comes to pass the last thing on your mind will be buying a house.
