My architect dropped by today to take pictures of my home. Business has slowed down, so she is taking the time to go back to projects and update her portfolio, something she never had time for during the boom. We had lunch and she astonished me by saying I had predicted this economic bust several years ago, and even specifically mentioned Washington Mutual would go out of business.
I assured her I was relying on better minds for my opinions, but I asked her what she thought when I first said those things, since things were booming at that point.
She said "I hoped you were right."
?!?!?!?!
She explained with all of the lands being torn up to build huge ugly homes and the poor transportation infrastructure planning and the environmental degradation and so on, she hoped it would end sooner than later.
Indeed, that is another downside to these booms, which are fomented by the central bank, requirement #5 in Karl Marx's Communist Manifesto. It is wonderful to see these democrats and republicans scurrying to save an element specifically recommended by Karl Marx. They are bailing out a system, not the system. When they do, we will have a bit more of what my architect dreads, and then the bust will be all the worse.
Thursday, October 2, 2008
I Hoped You Were Right
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