A quiet devastation.
I feel like I should add one more thing to my earlier post.
The bubbles I've been involved in, end much quieter than you expect them to.
The people who survive usually have a resigned response. The people who don't survive are like con-artist victims. They don't want to admit to being suckers. Occasionally, you'll get the chagrined, "I wish I sold my Nasdaq stock earlier." Or you get a forlorn, "Are you buying sports cards? I've got a really valuable collection."
Once a person drops out of a bubble, it's the past. It's embarrassing. They move on.
Most of the emotion happens just before the end, as it starts to become clear that things are changing for the worse, and the Casassandra's begin to be targeted. The sports card people spent years bemoaning how 'negative' the messengers were, and how if everyone would be 'positive' it would all be turned around. Which turned a blind eye to the problems, of course. If you can't even acknowledge that there is a problem, you sure as hell can't fix it.
Anyway, there will be a quiet desperation for the next couple years. But it will happen under the radar, to a large extent. The media will move on to the next big thing, once it becomes old news. Frankly, we bloggers are becoming a bit redundant already, (not that that will shut us up) because the things we were saying as possible are now on the front pages as news.
I was just talking to my neighbor for 20 years, Jerry Opie of the Sole Shop, and he was calling me about Sukmi's situation. (He calls me anytime there is a new victim of the downtown rent increases -- a sort of 'told you so...') But see, he's moved on. He is not motivated to indignation the way he was before he moved. Therefore you don't hear anything. He's happy where he's at.
I feel like I should add one more thing to my earlier post.
The bubbles I've been involved in, end much quieter than you expect them to.
The people who survive usually have a resigned response. The people who don't survive are like con-artist victims. They don't want to admit to being suckers. Occasionally, you'll get the chagrined, "I wish I sold my Nasdaq stock earlier." Or you get a forlorn, "Are you buying sports cards? I've got a really valuable collection."
Once a person drops out of a bubble, it's the past. It's embarrassing. They move on.
Most of the emotion happens just before the end, as it starts to become clear that things are changing for the worse, and the Casassandra's begin to be targeted. The sports card people spent years bemoaning how 'negative' the messengers were, and how if everyone would be 'positive' it would all be turned around. Which turned a blind eye to the problems, of course. If you can't even acknowledge that there is a problem, you sure as hell can't fix it.
Anyway, there will be a quiet desperation for the next couple years. But it will happen under the radar, to a large extent. The media will move on to the next big thing, once it becomes old news. Frankly, we bloggers are becoming a bit redundant already, (not that that will shut us up) because the things we were saying as possible are now on the front pages as news.
I was just talking to my neighbor for 20 years, Jerry Opie of the Sole Shop, and he was calling me about Sukmi's situation. (He calls me anytime there is a new victim of the downtown rent increases -- a sort of 'told you so...') But see, he's moved on. He is not motivated to indignation the way he was before he moved. Therefore you don't hear anything. He's happy where he's at.