A new word for “bubble”

Over at the LA Times Walter Murch and Lawrence Wechsler make a convincing argument that it’s time to retire the term ‘bubble’ when it comes to speculative excess:

The word “bubble” just has an inescapably happy feel to it, conjuring up kids and parties and sudden iridescent poppings, screams of laughter, the giddy clapping of happy hands and an overall lack of consequence. That was fun; now where’s the cake?

Even more so when the word gets paired with “tulip” or “South Sea.” Where could the harm possibly be in such blithe and fragrant things? Certainly not in the words themselves: exotic petals, swaying grass-skirted maidens, spheres of trembling insubstantiality.

So what do they suggest as a more appropriate term?

What if, instead of that playful word bubble, we tried something a bit more accurately descriptive when growth at any cost became the goal. Say, “tumor”: “the dot-com tumor,” “the subprime tumor,” “the derivatives tumor.”

Would anyone seriously gainsay the highest possible vigilance over the proper functioning of their own body or doubt the need for strong regulation? Who, facing the prospect of a tumorous outbreak or living with a body demonstrably prone to such outbreaks, would entrust that body to a band of physicians blithely committed to laissez faire regarding these fatal bubbles of flesh?

Words matter. Metaphors frame thought. Pay them heed and tend them well.

Read the full editorial over at the LA Times website. The Vancouver housing tumor?

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80 Responses to “A new word for “bubble””

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  1. 80
  2. Dave Says: Reply to this comment

    @Paulb.:

    The sellers are staying put. If sellers don't get the prices they want, then they will pull their listings. Some of those people might try again after the summer, but the current trend seems to be a levelling off of listings.

    Current score: 0
  3. 79
  4. Tony Danza Says: Reply to this comment

    @Anonymous: Yeah but was your place the show home hidden in the back corner of David Lam Park? Does the front door open onto a filthy alley? Does your landlord have a parking stall in your house? I didn't think so…

    Current score: 3
  5. 78
  6. Anonymous Says: Reply to this comment

    @Best place on meth: But… but… I thought there were going to be so many people lining up to rent at the open house that application forms would have to be handed out on a first come first served basis?

    I wonder if the landlords to be are shocked that everyone else in Vancouver isn't as clueless as they are?

    Current score: 1
  7. 77
  8. Anonymous Says: Reply to this comment

    @Best place on meth:

    Nice! I wonder if that place will ever be rented. I just signed a lease on a 2 bed, 2 bath 900 plus square feet in Vancouver. How much? A few hundred less than $1550! Oh, but I forgot, my new place is not "IN THE WEST" Apparently I'm supposed to sacrifice an extra washroom, another bedroom, oh AND a parking spot for that. What was I thinking??

    Current score: 2
  9. 76
  10. jesse jesse Says: Reply to this comment

    @4Slicesofcheese: From your link: "Lanefab says the homes cost between $160,000 and $220,000 to build, and can be rented out for between $1,100 and $2,200 depending on the size of the unit."

    So… that's a price/rent of about 120 or so on construction costs alone. Not bad… if the land is free :lol:

    Current score: 6
  11. 75
  12. Chilled Says: Reply to this comment

    @Best place on meth:

    It's probably one of those "send the deposit to PO Box Africa and we will mail the keys" double douche like deals.

    Current score: 1
  13. 74
  14. Strataman Says: Reply to this comment

    @vibe: Mania is nice but not actually descriptive…..my suggestion is "boil"
    http://en.wikipedia.org/wiki/Boil

    If not perfect then abscess
    http://en.wikipedia.org/wiki/Abscess
    I especially like the description of real-tors that would be "pus" :-)

    Current score: 3
  15. 73
  16. Best place on meth Says: Reply to this comment

    @4Slicesofcheese:

    That one is bigger and it's in East Van. But it also says it's the "first of it's kind".

    Hey…what's going on here?

    Current score: 4
  17. 72
  18. 4Slicesofcheese Says: Reply to this comment

    @Best place on meth

    Story today

    http://www.ctvbc.ctv.ca/servlet/an/local/CTVNews/

    Current score: 0
  19. 71
  20. Best place on meth Says: Reply to this comment

    Our favorite laneway "home" is still up for grabs.

    Not sure whey they put in 2 ads for the same place yesterday at 2 different prices though.

    And the square footage has somehow increased.

    http://vancouver.en.craigslist.ca/van/apa/1793470

    http://vancouver.en.craigslist.ca/van/apa/1794157

    Something douchy going on here.

    Current score: 11
  21. 70
  22. vibe Says: Reply to this comment

    I fear that people's faith in real estate might be so great that switching tumour for bubble might lead them to believe that cancer is actually beneficial.

    I vote for "mania". This seems to me like the most accurate way of describing what a bubble really is.

    Current score: 4
  23. 69
  24. vreaa Says: Reply to this comment

    Pope: Thanks for the 'tumour' article, great link.

    Some commenters suggested that the word 'bubble' already has enough negative connotations. You can argue that is only true of the minority of the public that is educated with regard to financial matters. Most citizens don't really understand the 'bubble' process, or why 'bubbles' are bad. (Especially when they're in the middle of one.)

    Suggesting we use a term like 'tumour' to describe them is a very good idea. Why didn't we think of that before?

    A tumour's growth outstrips that which the organism can maintain, it misallocates the whole body's resources, and unless it is cut-out/curbed, it can destroy its host. Very good metaphor; with appropriately dreadful connotations.

    Current score: 5
  25. 68
  26. grimreaper Says: Reply to this comment

    I think cancer is a perfect analogy since most of you will probably die of it at an early age since you live in 1970s apartment blocks full of carcinogenic building materials. Enjoy what's left of your life!

    Current score: -23
  27. 67
  28. Paulb. Says: Reply to this comment

    @Paulb.: Nope was 18775. Where are the sellers ? :)

    Current score: 7
  29. 66
  30. Best place on meth Says: Reply to this comment

    @Raz:

    When the worthless cheerleaders post I just hear vuvuzelas.

    Current score: 11
  31. 65
  32. McLovin Says: Reply to this comment

    Yet another net 100. This is like clockwork.

    19K by Friday after work!

    Current score: 15
  33. 64
  34. Neptune Says: Reply to this comment

    HST and July's interest rate hike looming. This is going to get ugly fast…..can't wait.

    Current score: 12
  35. 63
  36. Paulb. Says: Reply to this comment

    @domus: I think I meant 18875. I'll update later.

    Current score: 9
  37. 62
  38. Woodrow Says: Reply to this comment

    Why can't everyone else see that this superduperbulltime is just a guy with way to much time on his hands trying to be funny (it was the first few posts but not anymore dude). Just ignore him and he will eventually go away and find something else pointless to do with his existence.

    Current score: 6
  39. 61
  40. Chilled Says: Reply to this comment

    @Gordon C.:

    Gordon C. Says:

    June 16th, 2010 at 9:32 am

    Okay, your boss tells you that you will have to take a pay cut or be layed off.

    Your spouse is pregnant.

    You break your leg and have to go on workers compensation.

    Your tenant moves out.

    Your spouse moves out

    You get divorced

    Your dog needs a $10,000 operation.

    You get fired.

    +++++++++++++++++++++

    You just wrote my memoir.

    Current score: 1
  41. 60
  42. Teddy Bear Says: Reply to this comment

    Nicely sad, Raz.

    Current score: 2
  43. 59
  44. Raz Says: Reply to this comment

    Let's not feed the trolls. It's full evident that the trolls have nothing intelligent to say. All we hear is his brain farts.

    Looks like he's in need of medication to his Attention Deficit Syndrome – probably he can't afford it either with his high mortgage payments.

    Current score: 14
  45. 58
  46. Teddy Bear Says: Reply to this comment

    Superbullcrap,

    when was the last time you could afford cherrys? How much did maintenance fees go up this year? Any assessments coming this fall? LOL Frustrating, I know… there are people who are free, who travel, go out, don't have to watch every penny they spend, and there are "owe-ners" – realturd landlord wannabees… :)

    Current score: 5
  47. 57
  48. domus Says: Reply to this comment

    @paulb.: Inventory down relative to yesterday? Midmonth expiries?

    Current score: 1
  49. 56
  50. superduperbulltime Says: Reply to this comment

    Bear I made new blog for bear in Vancouver it's called forenter.com. Everyday I post story from bear about how great life is in their moldy basement. Only comment that proclaim bear lifestyle to be good will be allowed. I could make a few hundred per month on adsense easy with so many forenter bear. I think there is endless forenting bear supply so business will be profitable long term.

    Current score: -22
  51. 55
  52. paulb. Says: Reply to this comment

    New Listings 241

    Price Changes 160

    Sold Listings 140

    18,775

    Current score: 43
  53. 54
  54. Tony Danza Says: Reply to this comment

    @Dave: When did you have your lobotomy? Was it painful?

    Do you notice any other significant changes in your life since the procedure other than your incredible ignorance?

    Current score: 9
  55. 53
  56. domus Says: Reply to this comment

    "Asian Nations Impose Curbs to Slow Expanding Property Bubbles"

    http://www.bloomberg.com/apps/news?pid=20601087&a

    The International Monetary Fund has cautioned that Asia’s booming home prices “pose risks to financial stability.” Governments in the region are turning to market curbs rather than raising interest rates — at 20-year lows in some places — in an effort to avert a U.S.-style property crash. While real estate prices have yet to respond, equity investors have: a Bloomberg index of 192 Asia-Pacific real estate stocks has lost 15 percent in 2010 versus a 1.5 percent gain for its U.S. peer.

    Current score: 6
  57. 52
  58. zz.letron Says: Reply to this comment

    nothing see here.

    move along…move along

    http://www.yourhome.ca/homes/realestate/article/8

    Current score: 3
  59. 51
  60. rf Says: Reply to this comment

    @oneangryslav2: I don't see anything about him "wishing" anything upon anyone. He just states a set of historical facts.

    'Those who ignore history are doomed to repeat it'.

    'History may not repeat itself, but it tends to rhyme'

    -Mark Twain

    Current score: 1

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