Notices whom they choose as counterweights to Dean and Shiller, the
defenders of the dot.com and tulip bubbles.
The Perils of Predicting Financial Bubbles By EDUARDO PORTER
New York Times
Published: July 25, 2004
HOUSING prices will plunge. Now. This is the conclusion of a growing
troupe
by Perelman, Michael
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Mr. Hassett of the conservative American Enterprise Institute thinks
housing prices will be pretty much O.K. He acknowledges there might be
some bubble dynamics at play in some regions. But he argues that for the
most part people are paying more for homes because
He is saying that lower interest rates higher incomes increase demand. In itself
that is reasonable, but the question is whether it is enough to explain the soaring
costs of housing. If you know nothing about economics you have to choose between
Dean Baker someone who predicted a 36,000
Oh , I see what you mean on demand.
People are paying more for homes, because the cost of money is down ? How
long can the cost of money stay down in a creditor class dominion ? How long
? Not long ? They $hall overcome.
Then again who is selling the houses ?
Is Dean Baker of Univ of Mich ?
, 2004 8:08 PM
To: [EMAIL PROTECTED]
Subject: dean baker vs. the dot com and the tulip bubbles
Oh , I see what you mean on demand.
People are paying more for homes, because the cost of money is down ? How
long can the cost of money stay down in a creditor class dominion ? How long
? Not long
and cluelessness about bubbles (which folks
have seen real-time), is a pretty fair indictment.
And, there are other examples prior to his latest Ode to Real Estate. For instance,
in 1984, he wrote a letter to Edwin Gray, then-chairman of the Federal Home Loan Bank
Board, advising the regulator to exempt
Michael Perelman wrote:
Is there no pretense of socialism anymore?
the pretense is definitely there. last month, when i was in china, i saw
signs of it everywhere. the most popular joke among the locals seems to
be this one:
clinton, putin and dengX are driving in separate cars and come upon a
Last updated at: (Beijing Time) Monday, March 03, 2003
Dialogue Between Chinese and American Experts on Real Estate 'Bubbles'
At a seminar themed Chinese finance: towards rational exuberance held
last week in Beijing, an interesting dialogue was made between Robert
Shiller, professor of economy
Speaking of state ownership in China...
This is also from the People's Daily, if you can believe it:
The last land grab in China
People's Daily 2003-09-24
http://fpeng.peopledaily.com.cn/200309/24/eng20030924_124849.shtml
The Chinese government has finally realized that simply owning a wealth of
Is there no pretense of socialism anymore?
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
Sayeth the Chairman: We have constructed a very sophisticated housing
economy, and itÂ’s having a very significant effect on consumer spending and
indeed the rest of the economy.
Well, here are a few interesting words from my favourite miserabilist, Doug
Noland
NY Times, March 31, 2000
FLOYD NORRIS
Modigliani's Message: It's a Bubble, and Bubbles Will Burst
FRANCO MODIGLIANI says that the current mania for Internet and other
technology stocks is not irrational. But it is a bubble, and it will burst.
"I can show, really precisely, that there ar
In a message dated 97-09-16 03:23:25 EDT, Barney Hope writes:
The real question in Thailand is whether they can can establish a stable
economy and deal with all of the problems of underdevelopment. If we have a
collapse in the US maybe some will ask the same question.
I found your travel log
The Thailand version of Asian miracle is real in terms of macroeconomic
performance, the growth of manufacturing, and real changes in standards of
living for an extraordinary number of Thais. But the miracle is only part of
the story. Poverty, environmental degradation, urban congestion, AIDS,
to prevent or burst
financial bubbles "may risk excessive deflation in the product markets."
Managing this dilemma requires, again, "considerable judgement." Tax
policies that encourage borrowing should be changed, and "prudential
regulation and supervision" should be
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