[EconProf]

Robert Prechter is interesting because he emphasizes history, the importance of mass psychology in analyzing market trends, and the big picture. And yes, he has been wrong frequently, but that is partly because he has the courage to be specific in his forecasts and does not use weasel words to give himself an escape hatch in the future. He is worth listening to for preparing for unlikely “black swan” events. However unlikely they may be, they are so catastrophic that we should behave and invest as if they just might happen.

[EconProf]

Robert Prechter is interesting because he emphasizes history, the importance of mass psychology in analyzing market trends, and the big picture. And yes, he has been wrong frequently, but that is partly because he has the courage to be specific in his forecasts and does not use weasel words to give himself an escape hatch in the future. He is worth listening to for preparing for unlikely “black swan” events. However unlikely they may be, they are so catastrophic that we should behave and invest as if they just might happen.

[EconProf]

Robert Prechter is interesting because he emphasizes history, the importance of mass psychology in analyzing market trends, and the big picture. And yes, he has been wrong frequently, but that is partly because he has the courage to be specific in his forecasts and does not use weasel words to give himself an escape hatch in the future. He is worth listening to for preparing for unlikely “black swan” events. However unlikely they may be, they are so catastrophic that we should behave and invest as if they just might happen.

[EconProf]

Robert Prechter is interesting because he emphasizes history, the importance of mass psychology in analyzing market trends, and the big picture. And yes, he has been wrong frequently, but that is partly because he has the courage to be specific in his forecasts and does not use weasel words to give himself an escape hatch in the future. He is worth listening to for preparing for unlikely “black swan” events. However unlikely they may be, they are so catastrophic that we should behave and invest as if they just might happen.

[EconProf]

In many ways the dynamics of Ca’s fiscal decline are beginning to resemble the nation’s real estate decline. They both contain elements that feed on each other making the situation worse. These feedback loops fueling the state’s fiscal crisis include a declining economy which reduces revenue: a real estate price decline reducing 1) consumer confidence, 2) consumer spending (no more house ATM), (3)property tax revenues; state and local government spending soon to fall; the flight of besieged businesses to friendlier states and countries, etc.
Also, like Greece, CA faces much higher interest cost on our debt since our state is tied with Illinois for worst credit rating. Investors will increasingly look to how a state handles its finances.
The worst development from the recent weeks’ news is that the economy is not rebounding, which in past cycles always bailed us out. The question now is how much do collapsing state and local budgets affect real estate? We are about to find out.

[EconProf]

In many ways the dynamics of Ca’s fiscal decline are beginning to resemble the nation’s real estate decline. They both contain elements that feed on each other making the situation worse. These feedback loops fueling the state’s fiscal crisis include a declining economy which reduces revenue: a real estate price decline reducing 1) consumer confidence, 2) consumer spending (no more house ATM), (3)property tax revenues; state and local government spending soon to fall; the flight of besieged businesses to friendlier states and countries, etc.
Also, like Greece, CA faces much higher interest cost on our debt since our state is tied with Illinois for worst credit rating. Investors will increasingly look to how a state handles its finances.
The worst development from the recent weeks’ news is that the economy is not rebounding, which in past cycles always bailed us out. The question now is how much do collapsing state and local budgets affect real estate? We are about to find out.

[EconProf]

In many ways the dynamics of Ca’s fiscal decline are beginning to resemble the nation’s real estate decline. They both contain elements that feed on each other making the situation worse. These feedback loops fueling the state’s fiscal crisis include a declining economy which reduces revenue: a real estate price decline reducing 1) consumer confidence, 2) consumer spending (no more house ATM), (3)property tax revenues; state and local government spending soon to fall; the flight of besieged businesses to friendlier states and countries, etc.
Also, like Greece, CA faces much higher interest cost on our debt since our state is tied with Illinois for worst credit rating. Investors will increasingly look to how a state handles its finances.
The worst development from the recent weeks’ news is that the economy is not rebounding, which in past cycles always bailed us out. The question now is how much do collapsing state and local budgets affect real estate? We are about to find out.

[EconProf]

In many ways the dynamics of Ca’s fiscal decline are beginning to resemble the nation’s real estate decline. They both contain elements that feed on each other making the situation worse. These feedback loops fueling the state’s fiscal crisis include a declining economy which reduces revenue: a real estate price decline reducing 1) consumer confidence, 2) consumer spending (no more house ATM), (3)property tax revenues; state and local government spending soon to fall; the flight of besieged businesses to friendlier states and countries, etc.
Also, like Greece, CA faces much higher interest cost on our debt since our state is tied with Illinois for worst credit rating. Investors will increasingly look to how a state handles its finances.
The worst development from the recent weeks’ news is that the economy is not rebounding, which in past cycles always bailed us out. The question now is how much do collapsing state and local budgets affect real estate? We are about to find out.

[EconProf]

In many ways the dynamics of Ca’s fiscal decline are beginning to resemble the nation’s real estate decline. They both contain elements that feed on each other making the situation worse. These feedback loops fueling the state’s fiscal crisis include a declining economy which reduces revenue: a real estate price decline reducing 1) consumer confidence, 2) consumer spending (no more house ATM), (3)property tax revenues; state and local government spending soon to fall; the flight of besieged businesses to friendlier states and countries, etc.
Also, like Greece, CA faces much higher interest cost on our debt since our state is tied with Illinois for worst credit rating. Investors will increasingly look to how a state handles its finances.
The worst development from the recent weeks’ news is that the economy is not rebounding, which in past cycles always bailed us out. The question now is how much do collapsing state and local budgets affect real estate? We are about to find out.

[EconProf]

Could you tell us where they found asbestos and who found it?
Frankly, asbestos is in just about everything in any building over 20 years old: drywall, insulation, wiring, caulk, glue, popcorn ceilings…the list is dozens long.
Genuine risk to depends its magnitude and whether it is airborn. The shipyard workers of WW II inhaled it for years, in high concentrations, and many died as a result, decades later.
When the current laws on asbestos were debated years ago, a big battle occurred about how to best deal with asbestos. Many scientists argued it would be safest to contain it or wrap it and not disturb it or let it get airborn. Those who argued for removal and disposal, whatever the cost, won out, which may be why you are now so greatly inconvienced and paying in both time and money, as are the other parties.
I am sorry for the price, broadly speaking, you are paying for all this. It would be good to know how the asbestos was discovered, since the subject does not typically come up when fixing a plumbing leak and related repairs.

[EconProf]

Could you tell us where they found asbestos and who found it?
Frankly, asbestos is in just about everything in any building over 20 years old: drywall, insulation, wiring, caulk, glue, popcorn ceilings…the list is dozens long.
Genuine risk to depends its magnitude and whether it is airborn. The shipyard workers of WW II inhaled it for years, in high concentrations, and many died as a result, decades later.
When the current laws on asbestos were debated years ago, a big battle occurred about how to best deal with asbestos. Many scientists argued it would be safest to contain it or wrap it and not disturb it or let it get airborn. Those who argued for removal and disposal, whatever the cost, won out, which may be why you are now so greatly inconvienced and paying in both time and money, as are the other parties.
I am sorry for the price, broadly speaking, you are paying for all this. It would be good to know how the asbestos was discovered, since the subject does not typically come up when fixing a plumbing leak and related repairs.

[EconProf]

Could you tell us where they found asbestos and who found it?
Frankly, asbestos is in just about everything in any building over 20 years old: drywall, insulation, wiring, caulk, glue, popcorn ceilings…the list is dozens long.
Genuine risk to depends its magnitude and whether it is airborn. The shipyard workers of WW II inhaled it for years, in high concentrations, and many died as a result, decades later.
When the current laws on asbestos were debated years ago, a big battle occurred about how to best deal with asbestos. Many scientists argued it would be safest to contain it or wrap it and not disturb it or let it get airborn. Those who argued for removal and disposal, whatever the cost, won out, which may be why you are now so greatly inconvienced and paying in both time and money, as are the other parties.
I am sorry for the price, broadly speaking, you are paying for all this. It would be good to know how the asbestos was discovered, since the subject does not typically come up when fixing a plumbing leak and related repairs.

[EconProf]

Could you tell us where they found asbestos and who found it?
Frankly, asbestos is in just about everything in any building over 20 years old: drywall, insulation, wiring, caulk, glue, popcorn ceilings…the list is dozens long.
Genuine risk to depends its magnitude and whether it is airborn. The shipyard workers of WW II inhaled it for years, in high concentrations, and many died as a result, decades later.
When the current laws on asbestos were debated years ago, a big battle occurred about how to best deal with asbestos. Many scientists argued it would be safest to contain it or wrap it and not disturb it or let it get airborn. Those who argued for removal and disposal, whatever the cost, won out, which may be why you are now so greatly inconvienced and paying in both time and money, as are the other parties.
I am sorry for the price, broadly speaking, you are paying for all this. It would be good to know how the asbestos was discovered, since the subject does not typically come up when fixing a plumbing leak and related repairs.

[EconProf]

Could you tell us where they found asbestos and who found it?
Frankly, asbestos is in just about everything in any building over 20 years old: drywall, insulation, wiring, caulk, glue, popcorn ceilings…the list is dozens long.
Genuine risk to depends its magnitude and whether it is airborn. The shipyard workers of WW II inhaled it for years, in high concentrations, and many died as a result, decades later.
When the current laws on asbestos were debated years ago, a big battle occurred about how to best deal with asbestos. Many scientists argued it would be safest to contain it or wrap it and not disturb it or let it get airborn. Those who argued for removal and disposal, whatever the cost, won out, which may be why you are now so greatly inconvienced and paying in both time and money, as are the other parties.
I am sorry for the price, broadly speaking, you are paying for all this. It would be good to know how the asbestos was discovered, since the subject does not typically come up when fixing a plumbing leak and related repairs.

[EconProf]

My kids went to Jerabek long ago–walked the two blocks to school every day for years. Good, highly-rated school then, and I presume still is. I believe the local middle school is Marshall. A buddy sends his kid there and is not happy with it, despite the favorable demographics. Lots of busy-work homework. His kid gets all A’s, but so do 125 students out of 400. Serious grade inflation.

[Author]

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