An Economic Pillar on the Verge of Collapse

Washington Post ^ | December 6, 2006 | Steven Pearlstein

[expat_panama]

I am very open about the fact that I firmly believe a) the housing bubble exists and 2) is in the process of deflating and 3) that said deflation will be massive by the time this is all over and 4) will be a significant blow to the larger economy (which is already entering a recession).

And the rest of us firmly believe that (1) prices fluctuate, that (2) we can feed our families if we get our price info from market data, and  (3) people that make their understanding of prices conform to their belief systems usually end up on welfare or they mess up the economy when they vote.

Then again, we may be wrong so we're always willing to listen; cheers!