The CBO on the American Recovery and Reinvestment Act of 2009
Trying to Reduce the Power of K Street

Menzie Chinn on House Prices


The future data points are not market forecasts, exactly--they are supply-demand equilibrium trading prices for those agents who are in the CS 10 futures market who are almost surely not risk-neutral rational forecasters. And there are all the old worries about the role played by foreclosure prices in the CS indexes.

But it remains a very nice graph.

Posted via web from at Brad DeLong's Scrapbook.