Housing Bubble Memory Lane

May 26, 2005
Real Money: Don't Buy Housing Bubble Propaganda

There are bubbles in debt, credit and interest rates. There is the oil bubble, the import bubble, the China bubble and the current account deficit bubble. In short, we have a veritable bubble in bubbles.

He managed to name every single bubble that popped and even one that hasn't (interest rates, at least so far). Too bad it was sarcasm, lol.

Indeed, it is astonishing how many people who failed to either acknowledge the tech bubble in the 90s -- or at least failed to act on it -- now have no hesitation to declare real estate to be a bubble. This despite their lack of expertise or past track record in spotting bubbles on a timely fashion.

It is even more astonishing how many people heckled the people heckling the housing bubble, the debt bubble, the credit bubble, the oil bubble, the import bubble, the China bubble, AND the current account deficit bubble after already seeing one bubble pop.

I put the count at about one person actually, which you have to admit is pretty darned astonishing!

Sarcasm is dangerous work. I want to assure you that there are many layers of safety in place to protect the sarcastic nature of this blog.

First, the sarcasm is performed by a semi-trained professional in a controlled laboratory environment.

Second, zero or more adults supervise the sarcasm in its preplanning stages, planning stages, and its actual implementation. It is then stress tested using the power of prehindsight.

Third, if it passes said stress tests, it is moved on to an historical sarcasm simulator to see how the sarcasm will hold up in a simulated real world environment.

Fourth, under no circumstances is the sarcasm allowed to predict the current state of the universe or predict the future without adequate disclaimers. This usually involves either a self-heckle, a question mark, and/or references to trained monkeys. Even then, there is some risk that inaccurate sarcasm might be perceived to be released onto the Internet.

Fifth, if you have to ask how much sarcasm insurance costs, then you simply can't afford it. You'll need it though. There is nothing worse than having your sarcastic hard work heckled in a sarcastic manner. Nothing.

Please, for your own safety, do not try this at home. Once you put the sarcasm onto the Internet, it becomes fair game for every sarcastic loving fool out there, of which I am one. As a side note, don't even get me started on puns!