It seems like you aren't a very serious professional if you believe it was the collapse of the outrageous housing prices that was the problem... or self inflicted for that matter.
Yes, I know that's the alternate universe meme. I also know what actually happened, how, and why.
I've had this disturbing conversation enough, not interested now.
.
In the same breath you say that it's all about earnings and that housing prices should yet be far far over priced relative to earnings/rents.
Your theory makes no sense, all of it is bull shit. By the way, I have researched this matter exclusively and indeed have a Master's in economics. There is no way what you say is even in the ballpark and I would like to hear where you got it from.
When did I bring up housing prices?
This is why I no longer burn time on this stuff here. I've gone over CMOs and CDOs and CDSs and the CLTC and the ratings agencies and Greenspan and banks shorting what they were selling, oh, about a thousand times. And no one from the Right either understands or acknowledges any of it.
It's all the Dems' fault. It was just the CRA. Let's run with that. I've had enough of this weird game.
.