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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Mike Johnston who wrote (79021)5/12/2008 4:29:06 PM
From: Sunny Jim  Read Replies (1) of 116555
 
As I see it, how can the drop in real estate prices be called deflation any more than when nobody called the rise in real estate prices inflation? We saw horrendous increases in real estate prices and all the while, the FED and administration said that there was no inflation (well anchored they called it). As real estate and credit contract there will be no more acknowledgement of deflation than there was of inflation when things were going wild. What they're going to have to acknowledge though is the fact that the economy was dependent on people's willingness to hawk their houses for spending and they can no longer do that. We should call it "suckflation" - that loud sound when everyone sucks in their belts and stops spending cause the house ATM got closed down.
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