Real Estate Market is Already in Depression

Simon Maierhofer,

Dogs are conditioned to perform tricks in order to receive a treat. Horses are conditioned to trot or gallop at command. Humans are conditioned to deny the existence of a bear market.

Conditioning is defined as a process of behavior modification by which a subject comes to associate a desired behavior with a previously unrelated stimulus. It's ironic that Webster's uses the term stimulus' to define conditioning, because that's the same term the government has used.

In fact, the government's and stock market's actions have conditioned investors to believe that the worst is behind them. Anytime we are presented with data that points towards a recession or depression, the general consent is: 'This time is different!'

Unemployment is up, housing is down but stocks are up, so things must be different. That's at least the logical conclusion on Wall Street.

This Time is Different (more)