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  • From: Don Bowen <don.bowen AT earthlink.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: [Homestead] Housing bubble or froth
  • Date: Mon, 06 Nov 2006 10:19:18 -0800

Some differences of opinion from Roubini and Greenspan over the state of the economy and the affects of the housing market.

http://calculatedrisk.blogspot.com/2006/11/roubini-on-cnbc-and-more.html

"And mostly the difference in views comes down to the impact of the housing bust on the general economy. I think how people view the housing bust, depends on how they viewed the housing boom. Those that felt there was excessive speculation in the housing market (the definition of a bubble) believe that the housing bust has just started. Those that felt the boom was mostly based on fundamentals, with a little "froth", think the bust is almost over. "

Roubini has been predicting about a 70% chance of a severe recession in 2007.
http://www.rgemonitor.com/blog/roubini/



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Subject: Re: [Homestead] Housing bubble or froth
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Roubini has been predicting about a 70% chance of a severe recession in 2007.
http://www.rgemonitor.com/blog/roubini/

Whew! That guy, Roubini, lives in a special world! What the heck is a "trailing peak?" And where does he get "falling employment?" This just three days ago: "
NEW YORK (CNNMoney.com) -- The unemployment rate fell to the lowest level in more than five years in October, the government reported Friday, a sign of unexpected strength in the job market.
"The jobless rate sank to 4.4 percent from 4.6 percent in September, the Labor Department said. It was the lowest since May 2001. Economists had forecast the rate would hold steady. . . ."
http://money.cnn.com/2006/11/03/news/economy/jobs_october/index.htm

Predicting the US economic future has become similar to predicting the future of the world. Depends on which chapter and verse you choose to quote. Even more than in the various bibles, bloggers have an unlimited menu from which to cherry pick.

Be careful to read differing viewpoints. These new blogspouts can mess with your brain.






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