Doug Henwood wrote: > My point is that you couldn't really separate speculative price increases > from the other kind. How do you do it? And just what is the other kind?
it's true that no-one knows when a bubble is going to end, but after the fact, can't you say that the bubble represents an upward deviation past the trend in the price? and that bubbles reflect speculation, though maybe not the nefarious activities of an elite cabal of "speculators"? So even without speculators, there was a lot of speculation going on in the housing market until very recently. You can do the same with other items, perhaps even oil, at least as a first approximation. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
