Its interesting, in that it was 5 years ago I first became aware of TAE when Cory sent me this:
US Housing: The Story of 2011
https://theautomaticearth.blogspot.com/2011/01/january-1-2011-us-housing-story-of-2011.html
The part Cory emphasized was not the 80% price drops predicted, but the fact that all TPTB could do was delay the entire thing for a few months at most:
“The entire US housing system, lenders, builders, borrowers, the whole thing, is in grave danger, and that means both the financial system and the economy at large are as well. We’re looking at not just one or two, but a whole series of reinforcing feedback loops. Which neither Obama nor Geithner nor Bernanke have any control over, other than fleetingly and temporarily.
And that will be the story of 2011.”
Here we are, 5 years later, and the levitation continues…
Ann
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