Its called disaster capitalism. Working like a charm.
I'm a conspiracy theorist? Yea, and you're all sheep.
The reason the "starve the beast neo-con plan is NOT a conspiracy is because it was done right out in the open for all to see.
They told us their plans, and enough Americans thought it was a grand idea that they gave those guys their votes.
Was this economic meltdown of RE prices unexpected?
Not by me it wasn't.
I'd been bitching that the escalating prices of real estate (in comparison to the feeble increases in average salaries) was bound to blow up sooner or later.
It actually shocked me, however, that the decline in RE would so radically effect the rest of the economy.
I just did not really understand the relationship between Fannie and Freddie and the bond market to foresee that the whole economy was tittering on the brink.
Live and learn.
Had I known what a house of cards it all was, I might have been more willing to sell my house at the top of the market. I figure I've probably lost about $40k in potential profits by not selling two years ago.
OTOH, I'd have then probably lost most of my profits in the market, just like most of America's non-investment class of investors did.
If you were wise enough to sell the house then, you would have also taken your risky 401K and moved it to the lowest risk stuff that pays only 3% interest.