[defenderSD]

We already discussed that chart. I said it shows a reallocation of capital by the free market system away from manufacturing and farming into real estate, and that is caused by the increasing productivity of manufacturing capital and agricultural capital. I don't recall that you responded to this statement. If you want to debate with folks like us you're going to need to be specific and state your arguments precisely.

If you were to take a look at the market value of consumer audio electronics owned by individuals, guess what, you'll see that the exact opposite has happened. The ratio of the value of consumer audio electronics to GDP has collapsed in the last 30 years. I can buy a stereo receiver today for one third the price in real dollars that a receiver cost in 1976, and it's a much better product than 30 years ago. Product sectors do not have to maintain a steady ratio of price to GDP. That is not happening in many sectors. Sectors like Consumer electronics and long-distance telephone service have been collapsing in price while real estate and health care have been rising steadily. Much of this is caused by advancing technology.

[GodGunsGuts]

I disagree. It's not a reallocation based on free economics. I think the real estate bubble is directly correlated to the credit bubble that has been created by the FED and foreign purchases of US debt instruments.