And now Bush has Treasury Secretary Paulson traveling the world trying to reassure everyone that the world’s economy is on solid footing. Real estate speculation has come home to roost in many countries over the years, notably Britain, Australia and Japan. The powers that be are still trying to figure out last week’s “hiccup”. Be very careful about thinking it won’t happen again. With all the other global market challenges across various platforms we’re seeing more and more anomalies. Kurt Richebacher thinks we’re in for a long spiral down in real estate as well as other markets. He has a pretty accurate record so it will be an interesting couple of years ahead.
