Having just spent five days in the disaster that is Florida real estate, it makes me wonder: Is it possible that the Sept. 11, 2001, terrorist attacks were the root cause of declining home values? Is it possible that subprime loans and speculative building/buying were no more than tools, the equivalent of hijacked airliners?
If so, the eventual economic cost of those attacks may run in the trillions of dollars. It may also help us find the unity to gird our country against the biggest threat since World War II.
Hmmmm. Who gets the political advantage from this story?
h/t Cunning Realist, who writes, "Get back to me when we find minutes of Federal Reserve meetings and manuals on adjustable-rate mortgages buried in a Tora Bora cave."
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