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Putting the Perception and Reality of the Financial Crisis Into Perspective

Honest John,

You know, given the candidates we have in front of us, it wouldn't take much for me to take you up on your offer. When confronted with lesser of two evil choices, people are wont to take a chance. And given the usual function of the Vice President, one of your cats would probably do.

Too bad there isn't a viable third party candidate. But the parties have removed that option. They know all too well that people are likely to grab at straws when given the kinds of choices we are.

As far as the original article and chaos theory goes, you need a model to use it. Have you got such a model? It can't be very good if it didn't see this coming. I had coworkers, working stiffs who aren't in finance, predicting this was coming years ago. They weren't using chaos theory, just common sense. They saw the flipping, people being priced out of the market, the mortgage sales mania, reverse mortgages, ARMs. Already ten years ago this was starting. I knew a guy who was selling mortgages, doing gangbusters business. He thought the sky was the limit. It reminded me of the traders doing the dot com mania thing at the time.