A Housing Bust Chronology
We’re heading for the hills…really! Last week, stocks went up. Stocks went down. Not much was proved one way or another. The week ended in a draw, as near as we can tell. But we think we are making progress in understanding what is going on. The private sector is de-leveraging. Now, it’s the public sector doing the heavy lifting. It is leveraging everything it can. Leverage in the private sector led to the banking crisis/bear market of 2007-2009. Debt always leads to trouble. Next up: a cr
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