So the question is are we going to see one of those 1929 thingies or one of those Chinese water-torture 1965-1985 thingies.
We have brakes in place to prevent a 1929 thingie, at least all at once.
Economics are economics, and you can’t fool reality forever.
But you can slow down irrational moves, and I think that’s the goal here. Other than the housing market, the economy is pretty much on an even keel.
It’s not great and it’s not horrible, so the only thing we’re seeing are some pretty massive daily swings in our stock portfolios.
And frankly most of us are not buying or selling houses at the moment.
We’re seeing some pretty dramatic valuations in our stock portfolio day to day, but I try not to check it every day.