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Posted by Spacey Spade on July 10, 2008, 4:42 pm
> vg...@safe-mail.net wrote:
> > "The market slump isn't just shredding millions of college funds and
> > retirement accounts. It's also shredding the financial playbook that
> > many American families had come to rely on to protect and grow their
> > savings. Think of all the rules and beliefs that worked reliably for
> > decades, and which have been trashed in the last year..."
>
> > Wall Street Journal:http://tinyurl.com/BustedMyths
>
> I read this article.
>
> Actually, the conventional wisdom that "housing prices always
> appreciate" has NOT been "true for decades." We had a big housing slump
> around 1990. Lots of homeowners found themselves upside down on their
> mortgages through no fault of their own.
>
> OTOH, the endless series of bubbles we've experienced: the "dot.com"
> bubble, the housing bubble, the commodities bubble, etc., has gotten a
> lot of economists to question the Efficient Market Hypothesis (EMH) once
> again. If the market is truly "efficient" and news about overpriced
> assets are available to everybody, then why do these bubbles keep
> occurring? What are these investors betting on?
>
> --
> Steven L.
> Email: sdlit...@earthlinkNOSPAM.net
> Remove the NOSPAM before replying to me.
Surely, you know the masses are easily fooled by those in power...
Am I being cynical in assuming that those in power are usually not
very altruistic?
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