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The relentlessly negative reporting here would be funny if it wasn't so pernicious. "risk ... backfire ... risks sinking ... worrying". And yet they're explici
by mrec 9y ago
The relentlessly negative reporting here would be funny if it wasn't so pernicious. "risk ... backfire ... risks sinking ... worrying".
And yet they're explicitly talking about a correction. Making something that isn't correct, correct. You might think that was a good thing.
If you don't want a correction, stop pumping up bubbles. You can keep 'em inflated a long time, longer than many people can remain solvent, but if you shut out the younger generations then eventually the political calculation will change, and that change will not be in your favour. As Mark Blyth is fond of observing, the Hamptons are not a defensible position.
- matt4077 9y agoEntropically speaking, life on earth is also a bubble that will, at least over the really long term, correct.
- jackcosgrove 9y agoThe funny thing about the housing correction in the US was that prices dropped back to their historical trendline, as if the housing bubble had never happened. There wasn't even much overshoot.