Sunday, September 16, 2007

Econ 101 -- You're Late, Get In There, Sit Down and Shut Up

Real Estate Bubbles and California's Economic Growth:

Part 1 (9:38)
Part 2 (7:57)
Part 3 (7:29)

2 Comments:

Blogger marin_explorer said...

"We've never had this big of a bubble..." -- from part 3.

A succinct, clear presentation by Dr. Thornberg. And while re markets are "local", doesn't this particular bubble have a global reach--with possible global exposure to risk? Without a clear precedent, can we even predict the possible scale of fallout this time in terms of reduced retail consumption, losses to re-dependent business, or the effect when "toxic mortgage"-based investment goes belly-up? How much of that garbage figured into our "economic turnaround" since 2001?

And, what happens when China's mfg. overcapacity meets lagging retail consumption--"interesting times"? I expect more admissions to reality by Wall St. in the coming months.

Sep 16, 2007, 1:12:00 PM  
Blogger SEE YOU said...

Wow, what a refreshing dose of reality! Those videos make me want to cash in all of my poker chips for some more gold coin/ bullion. Something in the back of my mind is telling me to also stock up on canned goods, water filters and solar pannels...

Sep 16, 2007, 8:25:00 PM  

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