I'm one of those people who can't wait for the ending of the book - I have to read the last chapter first.

Then I enjoy 'retrofitting' and reconciling the ending with what led to it. I probably should have been one of those CSI's - if not for the aesthetics.  :)

So I found it quite interesting when I read this (May 9, 08) edition of Gary North's Specific Answers featuring these four maps from the Federal Reserve System starting last quarter of 2004.

You can see where growth and delinquencies began, then veered out of control. No surprise now, but I think back to hearing a president of a very big R Association giving a speech in 2006  -  telling a hundreds of leaders of Associations all over the state - quote - "There is no bubble."

Too bad he - and most of us -  didn't see the maps from 04 on! It was THERE. Not in black and white, but in RED.

The very last map shows the House Price Indexes.

Correct me if I'm wrong, but isn't MOST of the United States still increasing in value?

Looks that way to me!  :)

OK, enough reminiscing. The past is irrelevant (except what we can learn from it).

Time to think ahead!