patrick.net

http://www.gWtrbGWixRQ

and

http://www.2LZozsLYHD4

from the intro it sounds good, now DLing for me iPad . . .

Part 1 was pretty good! Old news, but a good rough summary for people who haven't heard it before.

Throwing in some of my charts would really pound the point home : )

Yes, interesting doc. But it certainly skipped the whole question of Japans role in the 70s and 80s. We lost our mfg edge much earlier, before the growth of China. But this is what happens when you discount the role of manufacturing in your economy and traded it for service (financial) sector jobs. there are still many today who deny the need for a mfg based economy.

Actually, the banks were aware that prices fell nationally from 1989 - mid 90s. The write downs came down to around $1B for Calfornia alone in early 90s.. But we know of many buyers in 1999-2007, who were in denial that home prices declines ever occured. But they blindly kept over-bidding -buying and -inflating prices believing 15-20% annual appreciation was the norm.

thomas.wong1986 says

But they blindly kept over-bidding -buying and -inflating prices believing 15-20% annual appreciation was the norm.

We now believe that it has to do with our almost innate behavior that we should do as told, especially from authority persons.

Who was not trained with this statement ? ;
REAL ESTATE PRICES NEVER COME DOWN

http://www.experiment-resources.com/stanley-milgram-experiment.html
BUY Real Estate or suffer poverty ! We were TRAINED !