The carma here is amazing - a bubble blogger reporting from the home of the mother of all bubbles - the Dutch tulip craze of 1636 - 1637. I walked around today admiring the tulips for sale - pretty darn cheap. And I could feel the spirits of people caught up in a financial mania of untold proportions four hundred years ago.
"What were they thinking" any sane person would ask. As that sane person takes out an option-ARM, no-down, no-doc, teaser rate mortgage to buy a $1.2 million apartment.
Get it?
Looks like I missed more of the total meltdown in the subprime sector today. Good god it's gotten Depression-era ugly for that sector hasta pronto. I'm short LEND and CFC via my July puts so very nice. Maybe I'll go buy some tulips.
Moderation will be a bit slow next 48 hours. I'm back in bubble-central London Sunday.
