Jonathan Miller and the New CNBC Housing Bubble Doublespeak

It was amusing listening to Jonathan Miller on CNBC today say when asked if there was no housing bubble in America. He said there was no bubble! Yet, he then got into a discussion about interest rates and he said that price increases of 12 percent were unsustainable. He said that higher interest rates would take some of the froth out of the market.

Have any of you ever seen froth? Do you know what froth is? Froth is made up of, you guessed it, bubbles! But there is no bubble, just a bunch of little bubbles frothing up?

Froth foams up, and in fact, froth by definition is foam. It is foaming up by agitation. We are agitating to a housing bubble. Do you have a bubble when your washing machine froths up and overflows with foam? Of course you do.

Time to put the hammer on CNBC's doublespeak and Jonathan Miller's absurd distinction between froth and bubbles.


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