Wolf’s latest excellent graphs tell a story that breaks down the conventional media myth about 2008. I hadn’t seen these graphs before. I knew that the myth about a US housing bubble was wrong, but I assumed it was a US phenomenon, not international.
Wolf shows stock indexes from all major countries from 2000 to now. All run in perfect sync from 2000 through 2009. The same fucking graph. Obviously those Euro countries were NOT affected by our housing bubble. Most of them are predominantly renters and apartment dwellers. They never developed our single-family suburbs.
So 2008 was not about housing or securitized mortgages or loose lending. It was just another Bush family Deepstate project to enrich the rich and slaughter the poor. Like 2001 and 2020.