263 karma · joined May 25, 2009
The real scare for me is the potential for another, larger bubble: the "Credit Bubble". A bubble exists when asset price inflation rises beyond what incomes can sustain. A bubble represents people abandoning reason and prudence for hope and greed. (http://www.chrismartenson.com/crashcourse/chapter-15-bubbles)
The Credit Bubble will pop when the sum total of all of our society's debt prices (read: interest) exceeds our ability to pay. Experts think this could happen anywhere between 2015 and 2020. When that pops, the housing bubble will look minuscule.
The prudent should prepare now. Buy food storage. Become self reliant. And get out of debt!
Yes, someone could lie. People lie all of the time. One of my jobs is to feel that out. I screen for integrity. I look for any hint of lying, even if they are joking. You can always tell someone with integrity from someone without it. And we want to work with people of integrity.