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Matt Yglesias argues that the conflict over Georgia just isn't that important for the rest of the world:
The war between Russia and Georgia, which appears -- mercifully -- to have ended, is, of course, a searing experience for the small republic that provoked and then badly lost the war. The consequences for the populations of Abkhazia and South Ossetia, the splinter regions of Georgia whose independence under Russian "protection" (originally declared back in 1991 when Georgia seceded from the USSR) now seems secure, may well prove lasting. And one can at least imagine that the conflict was a huge psychological boost for Russia, which is eager to move beyond the decline of Soviet power. But for the rest of the world, despite a lot of overheated rhetoric to the contrary over the past week, the consequences will be minimal.
And Dean Baker has the latest economic news:
During the years of the housing boom, the most frequently cited authority on the housing market in The Washington Post was David Lereah, the chief economist of the National Association of Realtors (NAR) and the author of the 2006 best seller, Why the Real Estate Boom Will Not Bust and How You Can Profit From It. It seems that the Post is still partial to those who argue that everything is just fine in the housing market.
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