These are quite lovely. I would be optimistic if things in Europe weren't so messed up right now. The newspapers and other media sources are simply not doing a good job of explaining what is going on, and as a consequence, I don't think that most people are paying much attention. Worse, I think that there is still the assumption on the part of some businesses and politicians that we are "decoupled" from events across the pond. That point of view did not hold water in 1914 or 1939.
I have little sympathy for creditors right now, be they banks, bondholder, or stock speculators. If a fool lends money to a fool, not only do you have two fools, you have two fools with less wealth than they had before. Real estate has no value except that people use it, rent it, maintain it and someday, tear it down completely and rebuild it.
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