On Sun, 2 Nov 2008 06:58:24 -0500, "Ed Huntress"
wrote:
snip
Haha! That's another good point. There are some really good economists
around who are saying that our economy is now dependent upon bubbles, that
the whole house of cards depends upon irrationally inflated valuations, and
that we're lurching from one bubble to the next.

But they were saying that six months to a year ago. Their assumption was
that it would take an economic collapse to wring the inflated value out of
assets (securities, not physical assets), and they didn't see that kind of
collapse coming. Now, maybe they'll re-calculate and say that it's possible
for us to have a real economy again, after we shuck off another trillion or
two in inflated values.

I don't have any idea, but they make a good case.
snip
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Major error appears to be the confusion between the Wall Street
Casino and the "real economy."