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Inverse of the Shoe Shine Boy Stock Tip?

Some rich guy supposedly pulled out of the stock market just before the Great Crash.  How did he know to pull out?  A shoe shine boy gave him a stock tip.  The rich guy thought, "If shoe shine boys are in the market, then we're in a bubble that's about to burst." I had my own shoe shine boy moment.  Some friends of mine who made around $200,000 (variable, since it was a sales job with commission) and were leveraged out the ass with car loans and credit card debt.  They got approved for an $800,000 mortgage.   I knew their fiances.  There was no way that loan was going to work out.  That's when I knew that the bubble was about to burst.  They were my shoe shine boy. Does the inverse apply?  Everyone now knows that we're in a recession or depression...continue to full post

Full post as published by Crime & Federalism on October 22, 2008 (boomark / email).