I'm about ready to agree with you. I can tolerate the "DOWN DOWN DOWN," to some extent. I wonder how some few can even type with all the foam and drool falling DOWN on their "bleepin" keyboards!!!
The self-righteous certitude blaring in UPPERCASE in endless replies from the "Keepers Of Odd Knowledge" Society are way over the top and more than I can stomach. It's enough of a "Malox Moment" without some few being almost gleeful in shrilly shreiking like chicken little!
Are some of the people here so thrilled over their dire SWAG's that they would be happy to see this nation pulled down in a (what the hell was that eupheumism for a crash), followed by a depression? If so... that's the same prayer that's on the terrorists lips!!! (or the UC Berkeley protestor, yellin... "Bring it all DOWN, maaaaaaaannnn!!!"
This crisis has been exacerbated by the idea that pulling out of overvalued market will ruin economy and the society in general. The more ominous the situation becomes, the more louder call for staying in market and stick to it no matter what. If many retreated 4-5 years ago, the damage can be serious but still much less than what we could have now. Each delay make things worse and make any thought of retreat painful to contemplate for some people.
The long stretch of denial brought us where we are now. Many here were simply speaking up because finally there is a visible vindication of their view that we have a huge bubble which could pop and do a lot of damage. Many of them have watched this market development with dismay as more and more people lose their mind and make things worse.
A lot of them got torrents of abuses heaped on for speaking up their mind. Some were booted out of this forum after nasty flame wars.
So called doom-sayers did not create this crisis. If they were heeded earlier, the crisis would have been more manageable. But they got shafted big time instead from all directions.
It is like calling mean-spirited those who predicted the doom of Soviet Union because such doom will bring about miseries to the Soviet people. According to your logic, we should not have been happy with the vindication of our views on Soviet Union which were constantly subject to unwarranted insults from the political left.
The sooner the market reaches gets out of the bubble, the sooner it can rise with productivity.