Tuesday, November 11, 2008
The Obama Bubble
They always end badly. Think of the dot.com bubble in the 90s when anything remotely connected to the internet went to the stock market heavens regardless of earnings or even revenue. Then there was the housing bubble when your house went up in value 10% between the time you closed and moved your furniture in. All you had to do was go see your friendly mortgage broker and he would refinance your note and even though you had no equity in the house, he would write you a big check. Now we have the Obama bubble where all of our hopes and aspirations are heaped onto his magical promise and prose. When this one breaks, it is not going to be fun and we must all pray that we survive as a nation.