http://housingpanic.blogspot.com/

Is it the Puritan heritage, this peculiarly American belief that the Apocalypse is just a round the corner? Remember all those books pre-Y2K, about stocking up? The whole industry has recycled itself and it's now the housing bust. The world as we know it is coming to an end - the world, in this case, being America. It's of a piece with the "Why us? Why are we under attack? It's the end of the world" attitude post September 11, when in fact the US had been exporting funding for terror and training foreigners in terrorist techniques for thirty years. It's no wonder fruitcakes like Henry Cate can sincerely assert that America "rescued" Europe in two world wars. There's just no grip on reality