[pepsionice]

There is an odd factor or two. There were several folks around who were predicting this already in 2006 timeframe, and getting no traction because no one from the Fed wanted to hear about the issue.

I might also go back to 1929, and discuss the whole decade prior to that crash...how dozens of warning indicators existed and no one (not the banks, the Fed, Congress, or the President) wanted to step into the middle of the mess.

[CaptainK]

About 6 months before the crash a freeper posted that there was an upcoming tsumani of ARM mortgages in California that were coming due and would be re-rated at a higher interest rate, resulting in huge numbers of homeowners being unable to pay the new increased amounts. He/she predicted it would be a financial calamity

It stuck in my mind and shortly after that posting the S&P fell to 12000. I got spooked and I begged my husband to get out of the market and into cash. But we didn't.

If only.

[CommieCutter]

Yeah. Peter Schiff was one who gained a lot of credibility because he was making doomsday predictions in ‘06. I remember him most of all.