We've gone through two back-to-back and overlapping bubbles in the US. From the mid-nineties to 2001 we had the tech bubble. Do you remember "venture capitalists" and software "startup" companies? Remember when Microsoft stock was splitting faster than fall firewood? It was a Ponzi scam that helped sustain the Clinton Presidency in its quest for balance budgets.

At the end of the Clinton years, we had the real estate bubble that continued until a few months ago. The market was a "house" of cards that came tumbling down with plenty of blame to spread between lenders and irresponsible borrowers. Now "we" get to enjoy a government imposed forgiveness program costing "billions and billions".

So do we need another fraudulent facade on which to build the next Jenga palace?