The paperback edition of "Dow, 30,000 by 2008" Why It's Different This Time came out on the 1st of this month on Amazon. I guess publishing schedules are fixed so that at a date is a date? Here's the most amusing of the "reviews" on Amazon (4 out of 4 stars by the way):
A Prescient Mind - Spot On!
What a brilliant, insightful tome on investing cycles. The author makes an iron clad case as to why the Dow will skyrocket to the stratosphere by 2008. I can find NO FAULT in his logic. Leverage is the key to success in this world of ours. Everybody should borrow against ANY asset that they have, especially their home, up to 30 or 40 times the fair market value. As everyone knows, homes NEVER decrease in value.
Customers who purchased this book also purchased Why the Real Estate Boom Will Not Bust - And How You Can Profit from It: How to Build Wealth in Today's Expanding Real Estate Market. Here's the publication history of the second author:
Lereah's book The Rules for Growing Rich: Making Money in the New Information Economy[5] touting investment in technology company equities was published in June 2000 at the onset of the collapse of the dot-com bubble.
Lereah has produced three titles on real estate investing. His 2005 book Are You Missing the Real Estate Boom?: Why Home Values and Other Real Estate Investments Will Climb Through The End of The Decade--And How to Profit From Them[6] was rereleased in February 2006 as Why the Real Estate Boom Will Not Bust--And How You Can Profit from It.[7] Before departing the NAR, Lereah wrote All Real Estate Is Local: What You Need to Know to Profit in Real Estate -- in a Buyer's and a Seller's Market in 2007.
Crazy. Keep an eye on this guy; he's a great guide to the next big bubble!
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Even better is the fact that the Leveraged Sell-Out's book -- Damn, it feels good to be a banker -- came out right as all the investment banks were toppling.
I don't know this Zaccaro, but David Liarrhea's prognistications on the housing market were infamous in bubble-watching circles. As the chief economist of the NAR, he acted basically as the Baghdad Bob of the real estate industry. (The new guy, Yun, is no more reliable but doesn't provide quite as much fodder for comedy.)
I move for the creation of a Department of Tar and Feathers -- sort of like a National Weather Service, except instead of collecting and disseminating weather data they do the same for the social climate, particularly keeping a running database of public intellectuals who engaged in political/economic forecasting (complete with references, natch). We could make Philip Tetlock the chairman:
http://www.haas.berkeley.edu/faculty/tetlock.html
I wonder how far a class action suit would get? mwhahahahaha