Can the housing bubble properly suffer a meltdown?
HOUSING BUBBLE WATCH….The housing meltdown continues apace
says Kevin Drum.
To nit-pick: bubbles pop if made of soap, sag if of gum; implode is a sound generic term. An igloo can melt, at a pinch a sandcastle.
Only resourceful Hollywood can unmix the metaphors. In one of the later Bond movies, Die Another Day, the villain’s essential palace-cum-death-ray-control-centre is a huge dome made of ice. In the finale this naturally both implodes and melts. So a bubble meltdown can fit crazed plans for world domination, not the mundane housing slump.
Author: James Wimberley
James Wimberley (b. 1946, an Englishman raised in the Channel Islands. three adult children) is a former career international bureaucrat with the Council of Europe in Strasbourg. His main achievements there were the Lisbon Convention on recognition of qualifications and the Kosovo law on school education. He retired in 2006 to a little white house in Andalucia, His first wife Patricia Morris died in 2009 after a long illness. He remarried in 2011. to the former Brazilian TV actress Lu Mendonça. The cat overlords are now three.
I suppose I've been invited to join real scholars on the list because my skills, acquired in a decade of technical assistance work in eastern Europe, include being able to ask faux-naïf questions like the exotic Persians and Chinese of eighteenth-century philosophical fiction. So I'm quite comfortable in the role of country-cousin blogger with a European perspective. The other specialised skill I learnt was making toasts with a moral in the course of drunken Caucasian banquets. I'm open to expenses-paid offers to retell Noah the great Armenian and Columbus, the orange, and university reform in Georgia.
James Wimberley's occasional publications on the web
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