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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: NOW who wrote (72568)12/19/2007 3:28:58 PM
From: Steve Lokness  Read Replies (2) of 116555
 
tooearly;

i find it silly that you think while national home prices are falling, it is your neighborhood i should look at to decide macro trends

Tooearly - you are not reading what I say. I have acknowledged that the PNW is in a world of its own as far as housing. What I have said though is that if you don't count housing on the way up - why do you all of sudden put so much stock into it on the way down! Yes - I find that silly.

Housing is now distorting inflation exactly because the government didn't count it on the way up. But just because housing is now falling doesn't mean that we are in a deflationary stage since all of things I mentioned - and more - are on the rise. Food across the board is up up up. It will continue to go up I believe because of the energy bill and the efforts to make oil out of corn. Energy across the board is up in my world. Propane, diesel, heating oil and electric rates are up up up. Services prices are up up up here, I suspect because of worker shortages. Taxes and Insurance and education are up up up. Now you can talk until you are blue in the face, but that doesn't change the facts that all these prices are up and as of yet have shown no hint they are changing direction.

Now what in your life are you buying on a constant basis that are going down? List them!

steve
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