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.