Quote:
Originally Posted by whickerda
True story - Around late 2005-early 2006 I was sitting next to a guy who started talking about the real-estate boom. He said it was definitely a bubble and we were close to the top. He said a crash was coming because the paper backing all the eazy-mortgages was worthless. He used a few terms I had never heard and said a few things I didn't understand at the time.
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I had that same discussion with a 30yo LV poker regular who was a retired currency trader from some major bank. He said he'd sold all his property and moved all his assets into Asian banks because the US real estate market was about to collapse and when it did collapse it had every possibility of taking the economies of all the western countries down with it. He believed every major bank was going to go under and it'd be worse than the Great Depression.
Obviously he was crazy! What loon would predict something that insane.
I haven't seen him around in a few years. Perhaps he was just passing the time in Vegas playing poker while he waited for the apocalypse and when it came and went without the world exploding he headed back out into the real world. Wish I'd heeded his advice, though.