Dr. Housing Bubble, one of my most fav real estate bloggers, has a lot to say about the current money crisis.
He gives his account of the last 30 years and how all this mess got to critical mass.
“Going back to that simple mantra that a dollar saved is a dollar earned, we need to realize that there is something in being prudent and responsible with our capital. This goes for people on a personal level but also as a country. Debt will always be with us but to call what we have been doing for 30 years as prudent is like believing baseball players have never used steroids’, Dr. Housing Bubble says.
Is he right?
I think so.
But I’m also an optimist. We’ve had bad times before. We’ll get through this time- as long as our free enterprise system holds.