Yes there is somplace worse than Nevada.....Mississippi!

Altruistic at best. Not that it's a bad list, it's a good start, IMO.

Back in Nov '07 nostatic said that he predicted recession by '09 lasting until 2015. I believe him but I think he can advance his prediction to the present and the upswing sooner than '09. At 128/bbl today, the big sucking sound you're hearing is businesses being vacuumed dry.

Frankly, it's time for some corporate adjustment just as there has been real estate adjustments. Wouldn't bother me a bit if half of all stock owners lost everything but what's in their wallet.

You know...a WHOLE LOT of people recognized that the sub-prime loans were probably a bad idea just a few years ago. A few even posited that something should be done about it.

Who could have done something about it? Alan Greenspan? Perhaps. He could have put pressure on other banks to stop giving these sorts of loans, or at least raised interest rates to make them prohibitively expensive.

dubya? Heh! That moron doesn't know the prime rate from a prime rib! Besides, he's a republican and they believe that the markets should be just left alone, and if millions of people lose their houses and the world economy crashes...so be it. Laissez faire, right into the coffin.

My post here isn't supposed to be an indictment of the Republican party or dubya or Alan Greenspan. This whole thread is essentially what is known as "Monday morning quarterbacking", or a situation where a handful of people sit around a table just after the accident and point fingers at each other. Acheiving absolutely nothing in the process.

The real question: Where do we go from here?

N!

We have to take our lumps and let reality catch up with desire.

Anything else will only make the problem worse.

I guess that's another way of saying what I said. Maybe a little better put.

Sell up. By a little cottage in Cornwall. Enjoy living in an asset the value of which is denominated in Sterling. Take the rest of your money and buy a Euro denominated China fund and maybe nice plot of land in Andalusia. Watch your net-worth grow daily. Buy a Mini Cooper S. Drink good beer and whisky. Go fishing. Watch Monty Python re-runs at night. Pack all your troubles in your old kit bag and....