Reply #34: I think we do ourselves no favor by looking at the situation in isolated frames

[burythehatchet]

These things are all inter-connected and no single one is the cause or the result.

It puzzles me when pontificators declare that the "housing crisis" is at the core of the problem. These cretins actually believe the problem is that house prices declining are the reason for our problems. Stabilize house prices, they say, failing to recognize that when house prices were increasing, that was the drier that gave us our huge credit lines. A bubble (ponzi scheme) can only remain inflated with new money. As soon as one little area of the bubble pops a leak, the whole thing blows.

This has been in the making for decades. It is the result of spending trillions of dollars to feed the vultures. It is th result of the political process having been corrupted. It is the result of a complacent media that has no idea what it is supposed to do.