SEARCH BLOG: BUBBLE
We've gotten used to "bubbles." You know, those phenomena where something expands beyond reason... when the "value" placed on something goes significantly beyond any reasonable or intrinsic value. We've had a lot of them, but the next big one is going to make all of the previous bubbles... combined... look like tiny specks.
You might remember the gold and silver bubble when everyone was selling their old jewelry and flatware for outrageous prices. We've had a couple of oil bubbles that have caused major economic disruption. There was the dotcom bubble that created "billionaires" out of air. The housing bubble made owning a home the ultimate investment... until it wasn't. Commodities, energy, technology, housing... what's left?
The next big bubble is this:
The Obama administration has opened Pandora's Box by starting investigations into the Bush Administration's action.
Prediction: the Obama Administration will be the subject of investigations for the largest corruption scandal in the history of the world! The Republican administration will simply point out how may special interest groups, such as Acorn, received billions of taxpayers' dollars under the most dubious of excuses.
The Obama administration has obligated each of you give your money to special interests such as Acorn as part of its special interest laden stimulus spending. Each of you is now on the hook for almost $200,000 of federal debt... and it is going to get much worse. Your future is shot; when are you going to do something to protect the future of your children?
Too late. While you were mulling that over another $ million went down the tubes.