Word: marketeers
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...reason we have bubbles in the housing market is because there's been no way to short housing [that is, to make money when prices fall]. The ability to short is essential to an efficient market, otherwise there's nothing to stop zealots from pricing things abnormally high. If you buy one of these long securities, called UMM, it's like buying a house, except you don't have to go through the real estate agent, take possession of a property, maintain it, rent it out. But we also have the DMM, which is short housing. Markets like this will...
...entirely plausible that we could be there soon. But a full recovery didn't come until 1947/1948. We really messed up our system for now, and it's going to be hard to have a full recovery. But we could have further gains in the stock market and an end to the home-price declines...
...think there's any perfect solution, because the essence of a free-market economy is that people are allowed to make mistakes. And some of these bubbles have a good side. The Internet bubble of the 1990s brought us Amazon and eBay. They're still with us. Stabilizing the economy isn't the final goal. Having a little bit of turmoil, as long as it doesn't get out of hand, is part of creative destruction. You have a history of highlighting parts of the economy that have gotten out of hand before other people are paying attention. What...
...Society of Indian Automobile Manufacturers (SIAM), says the Nano is the first car in India to log more than 200,000 orders at launch. In comparison, the tiny Suzuki Alto, one of the Japanese carmaker's best-selling Indian offerings, has sold 913,000 units in the domestic market since 2000. (See the 10 things you should know about the Nano...
...Nano shortage notwithstanding, Tata Motors has demonstrated there is a market for the low-priced car, which has four doors and a 33-horsepower, 634cc engine located in the rear, Volkswagen Beetle style. "The Nano has shown how a new product at the right price can change the rules of the game," says SIAM's Chenoy...