I agree completely that people knew what was going on, I just don't see the point in talking about it. You and I knew what was going on - if your house appraisal went up 50% or more and you didn't know what was going on then you must have some kind of brain damage or something.
We all knew. How could stock prices go up double digit percentages for a decade and you NOT KNOW there was something going on ??
And we all know about the next crisis NOW. The government is spending billions upon billions for bailouts, we paid for a war with debt, Obama is going to KEEP spending TRILLIONS on top of the debt we already have - when all of that eventually results in currency devaluation and interest rates go to 20% ... who's fault is that going to be ? Sck5, are you on the telephone calling your congressman today telling them not to do any more bailouts ? Republicans, are you on the telephone with your congressman telling them not to fund the Iraq effort ? I mean who are we kidding here ... WE ALL KNOW. SO WHAT, what does knowing help ?
Yeah, we've had negative savings rates a bunch of quarters, people have been spending money like it's going out of style for TWO DECADES, house prices were in a MONSTER bubble .. Sck5, are you claiming YOU didn't know ? I KNEW, and I think EVERYBODY knew. You'd have to be completely blind not to know.
When interest rates end up going to 20% some day down the road, are we going to have to sit around listening to another round of blame game complaining about how "THEY" should have known it was going to happen ? I mean come on ... we keep electing these people, hell, we ARE these people, every single one of us, because we ALL support this crap. There's NO THEM, only US!