Are we starting to see some light at the end of the tunnel?

[opebo]

Actually the whole event is 100% psychological, so a turn-around is certainly possible, manic-depressive style.

[opebo]

Who buys stocks?  Whoever it is, they seem to be all excited today.

[opebo]

Right. If we go by median housing prices, we are still about halfway to making it back to where we should be. I couldn't believe how expensive housing had become until I saw the charts.

Keep in mind that a good deal of the problem was also lack of income growth in the lower 90-95% of the population.  Inflating these incomes would be another effective way to 'regain a balance' that would be much less damaging than the heavy deflation caused by the housing decline.

[opebo]

The most exploitative elites -- mobsters, swindlers, feudal lords, and corrupt politicians -- never find that they have made enough even though they do great harm and wreck the system whence they derive their lucre.

Um, no.  The most exploitative elite is simply the elite - the owners.  Rich people.

And they haven't wrecked the system which gives the their privilege yet - the prisons, police, and armies are still functioning just fine.