Bubble People and the Faith-Based Market

Trouble in Squanderville

By MIKE WHITNEY

Two years ago, anyone who wrote about the housing bubble was dismissed as a conspiracy nut. Now hardly a day goes by that the headlines aren't splattered with the details of the massive meltdown in the real estate market.

What changed? The facts are essentially the same today as they were back then. In fact, the "Economist"--as well as many independent journalists--had already shown that the Fed's low interest rates had inflated the biggest equity bubble in history which could potentially bring down the entire economy.