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Did U Think The Ponzi Scheme Would Last? » Comments » AF

  • How Big Was the NYC Housing Bubble? [View article]
    Um, do you know what a Ponzi scheme is? Well, the introduction of so much fake money (AKA "credit") into our economy resulted in Ponzi schemes popping up all over - homes, commodities, you name it. Ponzi schemes are a specific form of mania. Manias are often plays on people's greed, their desire to get something for nothing.

    Manias do not correct sideways. They end up lower than where they started because all of the temporary growth was, well, really temporary. And since some of the smarter players took money out before the crash, there is always less money in the mania after it goes bust than when it started which is why they end up lower than when they started.

    You want to know the price these homes will settle at? Same price they were selling at in 1995.
    Feb 10 01:17 am |Rating: +2 0 |Link to Comment
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