{"id":3180,"date":"2014-12-17T19:17:41","date_gmt":"2014-12-18T00:17:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3180"},"modified":"2014-12-17T19:17:41","modified_gmt":"2014-12-18T00:17:41","slug":"the-fracturing-energy-bubble-is-the-new-housing-crash-david-stockmans-contra-corner","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3180","title":{"rendered":"The Fracturing Energy Bubble Is the New Housing Crash | David Stockman’s Contra Corner"},"content":{"rendered":"

The Fracturing Energy Bubble Is the New Housing Crash | David Stockman’s Contra Corner<\/a>.<\/p>\n

Let\u2019s see.\u00a0Between July 2007 and\u00a0January 2009, the median US\u00a0residential housing price plunged from $230k to $165k or by 30%. That must have been some kind of super \u201ctax cut\u201d.<\/p>\n

In fact, that brutal\u00a0housing price plunge\u00a0amounted to a $400 billion per year \u201csavings\u201d at the\u00a0$1.5 trillion per year run-rate of\u00a0residential housing turnover.\u00a0So with\u00a0all that extra money in their pockets consumers were positioned to spend-up a\u00a0storm on shoes, shirts and dinners at the Red Lobster.<\/p>\n

\"\"<\/p>\n

Except they didn\u2019t.\u00a0 And, no, it wasn\u2019t because housing is\u00a0a purported\u00a0 \u201ccapital good\u201d or that transactions are largely \u201cfinanced\u201d at\u00a0upwards of 85% leverage ratios.\u00a0None of those truisms changed consumer incomes or spending power per se.<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Fracturing Energy Bubble Is the New Housing Crash | David Stockman’s Contra Corner. Let\u2019s see.\u00a0Between July 2007 and\u00a0January 2009, the median US\u00a0residential housing price plunged from $230k to $165k or by 30%. That must have been some kind of super \u201ctax cut\u201d. In fact, that brutal\u00a0housing price plunge\u00a0amounted to a $400 billion per year […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[1806,263,1991,406],"class_list":["post-3180","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-bubble","tag-energy","tag-fracking-bubble","tag-housing-bubble"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3180"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3180\/revisions"}],"predecessor-version":[{"id":3181,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3180\/revisions\/3181"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}