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Originally Posted by Adder
That's only half the problem, though. I think what people didn't know is when it would end.
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The only assholes who didn't were the high-on-hubris and utterly clueless fucks near the top
Quote:
And the ratings agencies.
Perhaps tomorrow I will find you some data, but this is a myth. Or rather, the existence of the inflation is a myth. The perception of the inflation isn't a myth, and is itself enough to support your point.
More specific data is available.
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When everybody knows it's a bubble, it's ending soon. That would have been what? Early 2006? Maybe summer 2006?
The ratings agencies were committing fraud.
I didn't say "Inflation exists." I said limited, selective forms of inflation persist. And coupled with the fact that most of that demographic was borrowing to pay for many necessities before, which is something they can't do now, even if the normal inflation in the cost of energy/cable/insurance/cell phones/gas has slowed a bit, the tiniest uptick in prices of those things still has an inflationary effect. And those things are not getting cheaper.
It is, but in very small amounts, and very little followed.
