Ease Off the Bubble-Calling

There's something about bubble-calling that's irresistible to grown-up pundits in search of getting their names around. They are always calling "bubble!" It's the bubble in junk credit; the bubble in housing; the bubble in Treasuries; the bubble in higher-yield stocks. It never stops. This is yet another kind of binary thinking, like the not-lamented-at-all passing of "risk-on/risk-off."

I totally understand the desire of someone who has something to sell, or of someone who wants to create a big name for themselves, to call a bubble. What could be better than calling a bubble in housing after a 10% increase in the price of a home? Think about how wise that is. If the bubble "bursts," and suddenly housing prices come crashing down, you are a genius! If housing goes up in price, that might be even better, because then it's an even bigger bubble. How much smarter can you sound?...463 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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