The “Contrarian Debate” is a discussion between Eric Janszen and Mish on housing, a possible recession, and the terminal state of the asset bubble cycle: inflation or deflation. As a prelude we also discuss “pocket change” and the rising rate of foreclosures.

Each of us presents and defends a “What year is it?” scenario.
Eric Janszen chose 1999. I chose 1929.

The debate came about as a result of Eric’s post Is it 1999 again? Yes and no. Our biggest agreement was that this was NOT a “70’s Rerun”. For disagreements and other agreements you will simply have to listen for yourself.

Thanks to Tom Jeffries for recording the debate and to Eric Janszen for initially contacting me and proposing this discussion in the first place. Note that this is a long podcast (about 50 minutes). Please play when you have about 50 minutes because that is how long it will take.

On behalf of both of us, we hope you find listening to this debate worth your while. Note that there is a bit of minor static for about 12 minutes or so about half way in, but the discussion finishes clean.

To hear this podcast please click here: Contrarian Debate: Janszen vs Mish and follow the directions.

Mike Shedlock / Mish/