August 29, 2006

Price Shock: US Homes (Graph)

REAL bubbles pop. They are fully formed one moment and gone the next. Financial bubbles rarely meet with such a definitive end, which has always been the biggest problem with the metaphor. They let out their air in unpredictable bursts, and it �s usually impossible to figure out whether they have finished deflating or are just starting to.

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life is absurd