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.

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This page contains a single entry by Papa-Lu published on April 2, 2007 6:26 PM.

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