Hahahaha I used to jokingly boast that Richmond, where I have owned my home for more than eight years, was in the Top Ten most dangerous cities in the U.S., but alas, we have fallen in the ratings. I think it’s overstating things a bit to characterize all of Oakland as dangerous; it’s a huge city with many lovely areas, the hills, for example.

I’m also very glad to hear from you, David. Your posts are always reasoned and informative. I have to say it’s looking more and more Depressing (so to speak) every day. Agree with you that 25 percent employment is to be avoided!

But I’m glad the bailout fell apart as it was written; if everyone was so indignant about bailing out the defaulting homeowners, we should be doubly so about those Wall Street executives!

I’m still hoping for a 90-93 style recession (not great, but not too ugly), especially outside housing-related industries, but if real businesses, like Caterpillar and McDonalds are paying 6% for overnight loans, we’re in deeper doodoo, and I might have to dial down my hopes to merely an 80-82-style recession (10-12% unemployment etc).

Remember, the Great Depression was 25%+ unemployment, etc. Let’s try to avoid that, please.