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Posted by: Michael Mandel on April 09
My new favorite chart: Goods imports versus home prices, indexed to start with September 2001 in both cases. They both zoom up, and they both collapse to roughly the same level.
Added April 10:
By request, here is home prices versus nonoil imports. The same pattern holds. If you think that one is a bubble, the other one likely is a bubble too.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.