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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: anachronist who wrote (70127)9/22/2006 4:19:43 PM
From: Mike Johnston  Respond to of 110194
 
Exactly, in the near future people will understand that rising house prices were a neighborhood decimating disease and not wealth creating machine as the establishment led them to believe.

Mish reported massive shutdowns in his area, but his conclusion was not correct, because the shutdowns were caused not by deflation but by inflation: higher costs>shrinking margins and inflation causing real wages of customers to collapse.