April 2, 2007
X is the new Y
A thought: subprime mortages are the new stocks-on-margin. Good people were enticed by profiteers to throw money they did not have at a booming market only to find themselves with nothing when the market took a downturn I don't think we're headed for another depression, but the psychology of incurring unmanageable debt based on the assumption that the investment will increase in value is pretty much the same thing.
Posted by Papa-Lu at April 2, 2007 6:26 PM
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