Bubble, bubble, toil and trouble
May 29th, 2005 by 
InLibrisLibertas
Moving our new sailboat up the East coast and so out of touch. Reading papers to find much denial of housing bubble, justified on the basis that not all markets are being pumped and chased. Well neither were all stocks in the tech bubble. Just think of cities as analogous to industry groups and you’ll see that they don’t all need to be up for a bubble to happen.
But the tech bubble didn’t have zero down and negative amortization financing. So the sell-off was relatively mild. Folks just lost their retirement money. This time they will lose everything.
Posted in Manias | 