On 3/4/07, Doyle Saylor <[EMAIL PROTECTED]> wrote:
All well and good I suppose. As Roubini points out the financial sector does not have any incentive to predict recessions.
not all forecasters (e.g., UCLA) have this incentive. But all they can do is extrapolate.
There are then some conundrums a left might consider. If we can't predict recessions why bother stopping speculation, or real estate speculation like the Savings and Loans debacle on account of the bad affect upon the U.S. economy?
recessions are different from those. An anti-speculation tax and/or intelligent bank re-regulation help with those others.
Thirdly do working people really believe that housing can go up indefinitely and that is right?
housing is currently coming down, though it does depend on the area. -- Jim Devine / "The truth is more important than the facts." -- Frank Lloyd Wright
