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What Would Milton Friedman Say?

Peter Robinson posts a little to and fro that he and I had about the housing market bubble inspired by Peter's piece on today's Forbes.com.

David M Zuniga, PE (www):
I think we've failed to account sufficiently, however, for the vast differences in today's global market, vis-a-vis that of the late 1920s.

As David Smick argues trenchantly in The World is Curved: Hidden Dangers to the Global Economy, China's internal problems may hit the world markets with an impact dwarfing Western market tremors.
10.17.2008 9:25pm