Exactly. Worst article ever. The writer is either very silly or completely disingenuous.
If a writer had to caveat every statement to be 100% accurate, they'd never get finished or if they did it would be so boring no one would read it. I want to caveat this with - some articles would get finished and some tiny percentage of them would actually get read. If you are still reading at this point, I guess I'm thankful for the caveat because it's now proven to be true. Let me caveat - "proven" is used in a non-scientific manner here because the above isn't strictly a proof. It's just a common sense usage of the word. Let me caveat "common": I'm speculating that it's common sense because it seems sensible to me and I feel like a common person.
Even further - Lehman had a giant book of derivatives. The counterparts to all those trades woke up to a nightmare - you don't even know what your own book looks like if you don't know what % of your positions with a given counterparty are still valid. Imagine the panic.
Going back to 05-07 people were bidding up houses in anticipation of them going up in value + there was high supply. People right now are bidding up houses to live in, because there aren't many and interest rates are very low, and they have money in the bank because they weren't spending much the past couple of years.
If a writer had to caveat every statement to be 100% accurate, they'd never get finished or if they did it would be so boring no one would read it. I want to caveat this with - some articles would get finished and some tiny percentage of them would actually get read. If you are still reading at this point, I guess I'm thankful for the caveat because it's now proven to be true. Let me caveat - "proven" is used in a non-scientific manner here because the above isn't strictly a proof. It's just a common sense usage of the word. Let me caveat "common": I'm speculating that it's common sense because it seems sensible to me and I feel like a common person.