{"id":20,"date":"2004-10-21T18:07:53","date_gmt":"2004-10-22T02:07:53","guid":{"rendered":""},"modified":"2015-10-12T17:23:48","modified_gmt":"2015-10-13T01:23:48","slug":"greenspan_and_bubbles","status":"publish","type":"post","link":"https:\/\/bayesianinvestor.com\/blog\/index.php\/2004\/10\/21\/greenspan_and_bubbles\/","title":{"rendered":"Greenspan and bubbles"},"content":{"rendered":"<p>\nAccording to <a href=\"http:\/\/quote.bloomberg.com\/apps\/news?pid=10000087&amp;sid=asw.qzRMh7RA&amp;refer=top_world_news\">an October 19 Bloomberg article<\/a>, Greenspan said:<\/p>\n<blockquote><p>\n&quot;Housing price bubbles presuppose an ability of market participants<br \/>\nto trade properties as they speculate about the future,&quot; and the<br \/>\nexpense and difficulty of moving &quot;are significant impediments to<br \/>\nspeculative trading and an important restraint on the development of<br \/>\nhousing price bubbles,&quot;\n<\/p><\/blockquote>\n<p>\nI wonder how he would describe the Japanese real estate prices of the late 1980s.<br \/>\nIt might not be a coincidence that the dollar has dropped against gold and other currencies the past couple of days.\n<\/p>\n<p>\nI&#8217;m not yet willing to bet money that a significant housing bubble is developing in the U.S., but it wouldn&#8217;t take too much for me to decide it&#8217;s time for such a bet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to an October 19 Bloomberg article, Greenspan said: &quot;Housing price bubbles presuppose an ability of market participants to trade properties as they speculate about the future,&quot; and the expense and difficulty of moving &quot;are significant impediments to speculative trading and an important restraint on the development of housing price bubbles,&quot; I wonder how he [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[18],"tags":[146],"class_list":["post-20","post","type-post","status-publish","format-standard","hentry","category-investing","tag-bubbles"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p80O1l-k","_links":{"self":[{"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/20","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=20"}],"version-history":[{"count":1,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/20\/revisions"}],"predecessor-version":[{"id":365,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/20\/revisions\/365"}],"wp:attachment":[{"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=20"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=20"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bayesianinvestor.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=20"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}