shortages skills flight vibrant parallel market for goods in foreign exchange erratic fuel supplies and demick speculative rent seeking behavior so this is as a result of his money printing his this in demick speculative rent seeking behavior so i want to turn to a headline just out from california quote are we seeing an echo housing bubble in california the low inventory low interest rate mania the psychology of buying in a perpetual bubble machine so apparently southern california home prices are up a solid twelve and a half percent max your way year with incomes being stagnant you need to ask where is this jump in prices coming from well dr housing bubble says two main places low inventory selection and incredibly low interest rates right to central bankers get together occasionally for their calm shab day smoke each other's belly button lint and they get high on the delusions of their mastery of policy meanwhile there's an echo housing bubble in california which is set to explode and set the stage for another massive downturn in house prices which will further impair the balance sheets of