Wednesday, June 4, 2008

Media semantics

Notice how in the media it is BAD news when oil prices rise but GOOD news when house prices rise? Hello!


Anonymous said...

It's a natural populist position.

A rise in the prices of gas shrinks (and thus depresses) the American economy by moving liquid capital from individuals to multinationals, to overseas banks. Home prices rising (assuming you buy into the supply side model touted by the party of our current fearless leader) stimulates the economy by building the passive wealth in the hands of the middle and upper classes, which then trickles down (according to the somewhat dusty old patois) into the hands of every "average American."

If you believe otherwise you'd better get used to the idea of voting for Obama... and even he has pretty staid supply side tendencies. Really, if you believe that a housing price decline is in any way healthy for the American economy, you've pretty much got to vote Green or Libretarian and get it overwith.

from the perspective of main stream economists, bubble blogs aren't just contrarian... they're anti-American.

sexy said...