An economist who predicted the summer 2008 real estate crash way back in 2004 explains why the current panic is not market failure:

For a cyclical phenomenon, look past the catalyst

I enjoy playing with my brain chemistry. It's no secret. I sit here on a Saturday night with five different drugs in my system, some of which were taken to offset the negative side-effects of others. The end result is mellow and contemplative ( Read more... )