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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.

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Borrow Down Equity Historical Payment Significant Some Unusual Wipe

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
ALAN GREENSPAN

Earning Exhibited Inflation Inverse Past Price Ratio Relationship See
Greenspan, who knew so much more than most, knew far less than most supposed.
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Far Greenspan Knew Less More Most Suppose
The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Failure Finance Leverage Nature Significantly Unless Very
Whatever you tax you get less of.
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Economy Less Tax
…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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Ability Correct Economy Flexible Greater Inevitable More Response Self Unanticipated
To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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And she always has so much fun doing it. We make a good team.
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I’m a better economist than I was a sax player.
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How do we know when irrational exuberance has unduly escalated asset values?
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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Productivity is notoriously difficult to predict.
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The Iraq War is largely about oil.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Against Always Any Believe Fraud Law Need Probably
If I seem unduly clear to you, you must have misunderstood what I said.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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The need for values is inbred. Their content is not.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Assume Grop Knowledge Possess Exist Senator Understand
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Absence Confiscation God Inflation Protect Save
Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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