Friday, January 16, 2009

"Pushing Rope" or "Pushing Dope"?

Blogger Michael Hussey at "Pushing Rope" apparently felt himself vindicated now that the housing bubble has burst, since he was saying that it had burst back in 2006. While 2006 did eventually produce evidence that the housing bubble had popped, Hussey's analysis exhibited no basis in fact while the evidence at the time showed a mere decrease in the rise in home prices.

Hussey even performs plastic surgery on the past in the attempt to improve his looks:

Bryan continues to argue the 2006 housing market was fantastic.


"Do you read your links?"

Of course. What part did you quote that you think translates into the housing market having popped?
The part about decreased confidence about the future?
Does "downward momentum" mean slowing price gains or decreasing prices?

Do you just read into stuff what you want to see, or what?


In 2006, I saw Florida in economic trouble. Bryan, I could ask you if you saw what you wanted to see. But that would be a pointless rhetorical question.
When a person is so illogical that he takes from my comments that the Florida housing market in 2006 was "fantastic" there's little point in trying to use reason. A drop in the rise in prices does not indicate a "fantastic" market for either buyers or sellers. A drop in prices would at least indicate a potentially fantastic market for buyers, but that hadn't happened yet. In short, Hussey lies about what I wrote through the power of ignorance (assuming that it wasn't a lie of the willful type).

With analysis like that, the rope Hussey's pushing might as well be THC-rich hemp.

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