[EconProf]

CA state revenues have doubled in the past ten years.
The problem is not inadequate tax revenues.

[EconProf]

CA state revenues have doubled in the past ten years.
The problem is not inadequate tax revenues.

[EconProf]

CA state revenues have doubled in the past ten years.
The problem is not inadequate tax revenues.

[EconProf]

CA state revenues have doubled in the past ten years.
The problem is not inadequate tax revenues.

[EconProf]

CA state revenues have doubled in the past ten years.
The problem is not inadequate tax revenues.

[EconProf]

A thorough and exhaustive analysis of how we got into this mess.
They conclude we have a lot further to fall. As a nation, housing is about 15% overvalued still. Regional variations might suggest certain bubble areas like San Diego are even more overvalued, even considering how far we’ve fallen already.
But they also suggest that we are likely to overcorrect and shoot right past “equilibrium” as others here have suggested.
Further, their numbers are not corrected for inflation. In short, our additional fall could be lengthly and severe.
Its interesting, ever since WWII, the US and other developed countries has used the IMF to lecture reckless developing countries that have mismanaged their economies. Now the tables are turned.

[EconProf]

A thorough and exhaustive analysis of how we got into this mess.
They conclude we have a lot further to fall. As a nation, housing is about 15% overvalued still. Regional variations might suggest certain bubble areas like San Diego are even more overvalued, even considering how far we’ve fallen already.
But they also suggest that we are likely to overcorrect and shoot right past “equilibrium” as others here have suggested.
Further, their numbers are not corrected for inflation. In short, our additional fall could be lengthly and severe.
Its interesting, ever since WWII, the US and other developed countries has used the IMF to lecture reckless developing countries that have mismanaged their economies. Now the tables are turned.

[EconProf]

A thorough and exhaustive analysis of how we got into this mess.
They conclude we have a lot further to fall. As a nation, housing is about 15% overvalued still. Regional variations might suggest certain bubble areas like San Diego are even more overvalued, even considering how far we’ve fallen already.
But they also suggest that we are likely to overcorrect and shoot right past “equilibrium” as others here have suggested.
Further, their numbers are not corrected for inflation. In short, our additional fall could be lengthly and severe.
Its interesting, ever since WWII, the US and other developed countries has used the IMF to lecture reckless developing countries that have mismanaged their economies. Now the tables are turned.

[EconProf]

A thorough and exhaustive analysis of how we got into this mess.
They conclude we have a lot further to fall. As a nation, housing is about 15% overvalued still. Regional variations might suggest certain bubble areas like San Diego are even more overvalued, even considering how far we’ve fallen already.
But they also suggest that we are likely to overcorrect and shoot right past “equilibrium” as others here have suggested.
Further, their numbers are not corrected for inflation. In short, our additional fall could be lengthly and severe.
Its interesting, ever since WWII, the US and other developed countries has used the IMF to lecture reckless developing countries that have mismanaged their economies. Now the tables are turned.

[EconProf]

A thorough and exhaustive analysis of how we got into this mess.
They conclude we have a lot further to fall. As a nation, housing is about 15% overvalued still. Regional variations might suggest certain bubble areas like San Diego are even more overvalued, even considering how far we’ve fallen already.
But they also suggest that we are likely to overcorrect and shoot right past “equilibrium” as others here have suggested.
Further, their numbers are not corrected for inflation. In short, our additional fall could be lengthly and severe.
Its interesting, ever since WWII, the US and other developed countries has used the IMF to lecture reckless developing countries that have mismanaged their economies. Now the tables are turned.

[EconProf]

The differences are so numerous as to make any comparison unlikely. Vietnam required 600,000 troops, Iraq 160,000 or so. Iraq costing 1/12th the number of battle deaths as Vietnam. The Iraq experience has been overblown by the media by most historical comparisons.
Most of all, our economy now is far more open and deregulated, allowing production to expand (weaker unions) and imports to enter, thus holding down inflation. The problem during the 60s and 70s was demand-pull inflation in which our capacity was constrained, monetary policy was loose, and prices had nowhere to go but up.
Cost-push inflation was also then a factor via wage increases. Now cost-push is via oil and other resource prices going up. Wage inflation is not taking hold, and compensation remains a bigger cost component for busineses than natural resources.

[EconProf]

The differences are so numerous as to make any comparison unlikely. Vietnam required 600,000 troops, Iraq 160,000 or so. Iraq costing 1/12th the number of battle deaths as Vietnam. The Iraq experience has been overblown by the media by most historical comparisons.
Most of all, our economy now is far more open and deregulated, allowing production to expand (weaker unions) and imports to enter, thus holding down inflation. The problem during the 60s and 70s was demand-pull inflation in which our capacity was constrained, monetary policy was loose, and prices had nowhere to go but up.
Cost-push inflation was also then a factor via wage increases. Now cost-push is via oil and other resource prices going up. Wage inflation is not taking hold, and compensation remains a bigger cost component for busineses than natural resources.

[EconProf]

The differences are so numerous as to make any comparison unlikely. Vietnam required 600,000 troops, Iraq 160,000 or so. Iraq costing 1/12th the number of battle deaths as Vietnam. The Iraq experience has been overblown by the media by most historical comparisons.
Most of all, our economy now is far more open and deregulated, allowing production to expand (weaker unions) and imports to enter, thus holding down inflation. The problem during the 60s and 70s was demand-pull inflation in which our capacity was constrained, monetary policy was loose, and prices had nowhere to go but up.
Cost-push inflation was also then a factor via wage increases. Now cost-push is via oil and other resource prices going up. Wage inflation is not taking hold, and compensation remains a bigger cost component for busineses than natural resources.

[EconProf]

The differences are so numerous as to make any comparison unlikely. Vietnam required 600,000 troops, Iraq 160,000 or so. Iraq costing 1/12th the number of battle deaths as Vietnam. The Iraq experience has been overblown by the media by most historical comparisons.
Most of all, our economy now is far more open and deregulated, allowing production to expand (weaker unions) and imports to enter, thus holding down inflation. The problem during the 60s and 70s was demand-pull inflation in which our capacity was constrained, monetary policy was loose, and prices had nowhere to go but up.
Cost-push inflation was also then a factor via wage increases. Now cost-push is via oil and other resource prices going up. Wage inflation is not taking hold, and compensation remains a bigger cost component for busineses than natural resources.

[EconProf]

The differences are so numerous as to make any comparison unlikely. Vietnam required 600,000 troops, Iraq 160,000 or so. Iraq costing 1/12th the number of battle deaths as Vietnam. The Iraq experience has been overblown by the media by most historical comparisons.
Most of all, our economy now is far more open and deregulated, allowing production to expand (weaker unions) and imports to enter, thus holding down inflation. The problem during the 60s and 70s was demand-pull inflation in which our capacity was constrained, monetary policy was loose, and prices had nowhere to go but up.
Cost-push inflation was also then a factor via wage increases. Now cost-push is via oil and other resource prices going up. Wage inflation is not taking hold, and compensation remains a bigger cost component for busineses than natural resources.

[Author]

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