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Here is an interesting article on the U.S. situation:
http://www.openleft.com/showDiary.do?diaryId=8876

His/her analysis is similar to the ones that talk about speculation - particularly short-selling - as the salient cause, but he/she takes it down the road toward discussion of solutions. In the end the author cannot quite get specific, but Cookist theory could supply the missing piece.

In any case I would like to read your take on the analysis - either in this thread or elsewhere.

paul spencer

by paul spencer (spencerinthegorge AT yahoo DOT com) on Mon Oct 6th, 2008 at 09:44:23 PM EST
Short selling is not the problem. Please.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Tue Oct 7th, 2008 at 05:10:48 AM EST
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