whither the roller coaster??
"Mankiw's 10 principles of economics, translated for the uninitiated", by Yoram Bauman, www.standupeconomist.com . Presented at the AAAS humor session, February 16, 2007.
This is a visualization of real house prices since 1890 using a rollercoaster. Wait until the end!
CRIMES AND CORRUPTIONS OF THE NEW WORLD ORDER NEWS: The New Road to Serfdom: An illustrated guide to the coming real estate collapse
I wish I could post this in its entirety here, but the format won't allow it, so like marc I am going to just post it, and (here is a link for your use later) as this is about as straightforward as I have been able to find on the MECHANICS - the moral questions of course cannot be "illustrated" until the breadlines and poverty encampments are set up.)
P O R T F O L I O
Michael Hudson is Distinguished Professor of Economics at the University of Missouri–Kansas City and the author of many books, including Super Imperialism: The Origin and Fundamentals of U.S. World Dominance.
Nigel Holmes was the graphics director of Time magazine for sixteen years
and is the author of Wordless Diagrams.
the new road to serfdom
An illustrated guide to the coming real estate collapse
By Michael Hudson
From a comment thread:
The author concludes that we will end this cycle with Japan-style stagnation or worse. Anyone who bought a house in the last few years is screwed. If you bought long enough ago you might be ok in the sense you won't be in a position of selling your house for less than you paid for it unless they did the cash out refinance thing too much. As people are trapped by debt and going bankrupt the economy will suffer, people will lose their jobs making servicing of their debt even more difficult. This down cycle will feed on itself to who knows how bad.
I highly recommend picking up a copy for yourself especially if you are one to doubt the credibility of what the bubble bloggers have been saying (if I don't say so myself).