A Bub­ble of Ludi­crous Pet­ti­fog­gery

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By Philip Soos

Recently, Aus­tralian prop­erty ana­lyst Terry Ryder, in an arti­cle on Prop­erty Observer, voiced com­plaints about hous­ing bub­ble advo­cates. His issue is “wait­ing for some­one who sub­scribes to the bub­ble the­ory to actu­ally define it. So far, nobody has. The term implies that some­thing has been over-inflated and will burst.” Of course, Steve Keen has already done so in his volu­mi­nous and crit­i­cal work reach­ing back for over a decade.