We saw this coming ....

When you give people 50 year mortgages, or interest only mortgages or any mortgage with a payment that's 3x their annual salary, whaddya thinks going to happen? Having lived through the dot com explosion and subsequent crash, it's clear to me that we make up money in our heads. And we're making up the current mood disorder. I couldn't have said the following better myself, thank you to Perry Marshall for his articulation:

This whole "recession" thing everyone's blathering about was merely fabricated by the media (you know, the people we trust to deliver the "news" to us) so they'll have more to, uh, g-r-i-p-e about while they assault us with election propaganda.

Did you know that ABC, NBC, CBS and CNN have predicted 40 out of the last 2 recessions?

Yeah, look out baby, cuz the sky is falling. We're teetering on the brink of financial disaster and you should yank all your money outta the bank and hide it under your mattress and retreat into a fallout shelter with your portable TV. We can all stand together holding hands in stark terror, as Katie Couric faithfully reports the demise of planet earth.

Whatever.

I'm not participating in the current recession and you don't have to either. Look, grow your business, buy your beer, go on vacation, live life as normal and ignore the prophets of misery. OK?

I'm dead serious about this. The recession IS a fabrication of the media, but becomes a sort of self-fulfilling prophecy. Because of the talking heads and all their cheery news, the Mortgage biz is nearly in Intensive Care. Yeah, some people are being affected by this.

And some not.

So understand this: Whatever happens, whether it's a mild blip or bigger than that, there are two kinds of people:

1) Passive Victims (the 95%)

and

2) Alpha Warriors (the 5%).


Check out the whole article.