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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (94315)	2/16/2009 6:19:55 PM
From: John McCarthy	Read Replies (1) \| Respond to of 116555

Hi Koan "I always thought the foundation of economics was "THE LAW of supply and demand"!" OK - but (1) Why are housing prices crashing to a 1997 level? (2) How did they get to a 2006 level? I will use this answer: There are no laws of economics. We economists (anyone after Volker) have permitted this to occur. I hope you are fine -g- and look forward to getting my butt kicked -g- regards John

To: koan who wrote (94315)	2/16/2009 6:21:50 PM
From: Joe Btfsplk	Respond to of 116555

lol?? It'd take some familiarity with the whole spectrum of economic thought to understand why that essay is so germane. Unhappily, most don't have the time or inclination to digest that tremendous load. Some don't have the capacity. And so we have change we will bereave in.