‘[The sky] was sullen, streaked and livid, and [Arthur Dent] reflected that it was the sort of sky that the Four Horsemen of the Apocalypse wouldn’t feel like a bunch of complete idiots riding out of’
Click the pic to go to the CBC photo gallery of the recent Halifax Wildfires. Above is a detail of photo 2 — "The fire lights up the Halifax skyline in this photo taken from the Mic Mac Mall April 30. (Submitted by Cathy Murray)"
Meanwhile, swine flu continues to be an issue in Nova Scotia and the Halifax area. Weirdly, Doom’s stale post on the issue continues to be a top choice for Google searches on AH1N1.
When I first came to Housing Doom in mid-’06, my main concern was accounting rule SFAS 140, which allowed Fannie Mae and Freddie Mac to hide much of their accounting risk in off-balance-sheet "QSPEs." Recent events  have made a mockery of this, because the two big GSEs have been effectively (if you’ll pardon the expression) nationalized. Just look at our NY Fed H.4.1 topic and you’ll see a thoroughly unnatural constant level of foreign central bank holdings of Agency Debt extending back over a third of a year.
With American mortgage finance now subject to control from a command economy in Washington, most of the topics that I came here to blog about have effectively (there’s that word again) evaporated. In retrospect, I think September 18, 2008 sent us into the next Kondratiev phase, and the topics I had been following basically left current events and became history.
I’m going beyond housing now, into studies some of which were strongly inspired by my experience here but, as an astute Doomer recently communicated to us, go well beyond our present mandate. The gang at the Castle has enthusiastically supported my housing blogging efforts, and I owe a debt of gratitude to Doom commenters, especially the tough ones. Beyond Doom, my blogging colleagues have been a great inspiration. Several of them were important supporters. Of these, the one I would like to single out is the late Doris Dungey, with whom I exchanged only a precious few e-mails, but who generously mentored this entire blogging sector. You others still with us know who you are, and thank-you very much. Of course it’s to twist and the members of her family, who do such wonderful work behind the scenes of this page, to whom I again owe a great debt of gratitude. It’s been a blast 🙂
——————————-: "Province’s swine flu cases jump to 31: 17 new cases, 6 from HRM, 11 from King’s-Edgehill", Michael Lightstone, Halifax Chronicle-Herald, May 3, 2009. : "Fannie And Freddie’s Backdoor Bailout", Maurna Desmond, Forbes, May 1, 2009.