Hubble and Bubble

In 1990, few months after Canadians saw 1989 housing bubble, 11 tonnes Hubble Space Telescope (HST) was placed just 570 km away from us up there. Since then it is sending the clear signals and images we enjoy. Unfortunately economists don’t have that kind of eyes yet and still predict future based on past figures. Economists don’t understand that engineering is different. Last year Bank of Montreal’s Chief Economist Doug Porter said that Toronto, Ontario Housing market has a bubble which was a wrong signal and a wrong prediction because there was no bubble.