Everybody thought real estate could go only one way--up. Similarly, everybody BET that oil was going only one way--up.
This really bothers me. "People" thought RE could only go up in spite of the fact that they knew Gov't was forcing banks to make bad loans and, with just a wink, promising to make good on those bad loans.
Now here we have what amounts to a bunch of Peak Oilers controlling the oil-credit market when it really didn't take any education beyond reading the newspaper to realize that Peak Oil was a bunch of horse schitt.
I can say these things because I have been right on both counts.
Why are we so prone to listening to idiots?
