. . .
K “Not again.”
J “Again. And then again in 2029.”
. . .
K “Today the interest rate drives about 86 percent of the decision to purchase a house; the Fed dictates interest rates. The ‘Wealth Effect’ that arises when one’s paper worth rises substantially drives about 13 percent of the decision; the Fed has distorted and inflated the paper worth of assets to stratospheric and unsustainable levels. The desire by a few astute characters to rebalance their net worth into real estate drives about 1 percent of the decision; the Fed has distorted the relative value of assets and confounded the balancing act. Those three drivers are decelerating and will soon crash stupendously.”
J “Carve out about 17 to 23 percent for those folks who were cooped up and want a bigger coop. Buckets of ‘helicopter money’ were fluttering and floating around without a home in the hands of folks who want a bigger one. At the Fed’s direction, interest rates are going up, one’s paper worth is going down, and housing may be too large a percentage of one’s net worth. However, the value of one’s real estate holdings may remain proportionate because the value of one’s paper worth is also declining. Someone who had a million dollars in assets and a million dollar home may end up with six hundred thousand dollars in assets and a six hundred thousand dollar home. And be cured of the deceptive and deleterious ‘Wealth Effect’ that often drives one to be less wealthy in the intermediate run.”
. . .
K “Again.”
J “And again.”
. . .
[See the e-commentary at Housing: Another Bubble Blown By Criminally Low Interest Rates (August 24, 2020) providing a treatise on housing, Housing Again (October 8, 2007) discussing the anatomy of a house, America the Bankrupt: Economics 210 in the Land of the Freeway and the Home of the Wave (January 17, 2005) discussing the “Hyperdive” decline in the economy that is percolating, When the Bubbles Burst (December 4, 2006) discussing the macroeconomic and microeconomic consequences of the housing market collapse when all tools and manipulations finally fail and The Dow Jones (the Murdoch ?) Hits 14 K In A Hollow Economy (July 23, 2007) discussing the decline in the stock market that has been successfully delayed for fifteen years but cannot be avoided forever.]
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Again

Seventh Annual Pushitzer Prize In Commentary For 2022 (May 9, 2022)
Posted in Economics, Journalism, Pushitzer Prize In Commentary on May 9, 2022 by e-commentary.org. . .
“The envelope please. . . . This year’s Pushitzer Prize in Commentary is awarded to . . . Yves Smith (Susan Webber) with Naked Capitalism . . . for stirring the pot, asking hard questions, demanding answers, rejecting lies, spotlighting uncomfortable truths, comforting the afflicted and afflicting the comfortable. And being a journalist. And choreographing a collective of journalists who comment with insight and integrity on finance, economics, politics, power and life.”
. . .
[See the e-commentary on the ongoing international crime at The Persecution Of Assange And The Feckless MSM (September 21, 2020).]
[See the e-commentary on the Commentary Award at Sixth Annual Pushitzer Prize In Commentary For 2021 (June 7, 2021), Fifth Annual Pushitzer Prize In Commentary For 2020 (May 4, 2020), Fourth Annual Pushitzer Prize In Commentary For 2019 (April 15, 2019), Third Annual Pushitzer Prize In Commentary For 2018 (April 16, 2018), Second Annual Pushitzer Prize In Commentary For 2017 (April 10, 2017), First Annual Pushitzer Prize In Commentary For 2016 (April 18, 2016), Pulitzers Are Pro-War? Pressing The Pushitzers (April 22, 2013) and Economics And Finance: Girls v. Boys (June 4, 2018).]
[Please send nominations for the Pushitzer Prize in Commentary for 2023 and a supporting letter by January 21, 2023 to e-ssay@gci.net and send the entry fee to your favorite charity.]
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“The purpose of arresting Julian Assange is to send a message to the people, especially journalists, to be quiet and don’t get out of line. If we, the people, allow the government to control us through fear, we are no longer free, we are no longer America.” Tulsi Gabbard
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