A report on NPR yesterday noted that the burst housing bubble is at its worst in bedroom communities across the land. Homes in suburbs that require as much as a one-hour car commute are losing value faster than any other homes in the country. And certain urban areas near the downtown districts of Philly and D.C. are actually increasing in value.
Oh, and this: People also seem to be hoarding food.
The more I read the papers, the more I think Thomas Malthus was right, that grumpy old bastard.
"The power of population is so superior to the power of the earth to produce subsistence for man, that premature death must in some shape or other visit the human race. The vices of mankind are active and able ministers of depopulation. They are the precursors in the great army of destruction, and often finish the dreadful work themselves. But should they fail in this war of extermination, sickly seasons, epidemics, pestilence, and plague advance in terrific array, and sweep off their thousands and tens of thousands. Should success be still incomplete, gigantic inevitable famine stalks in the rear, and with one mighty blow levels the population with the food of the world."Oddly enough, that Apocalypse of Malthusian Destruction sounds uncannily like the last Critical Mass ride I was on, when I could not find a Taco Bell to save my life!