Aaron Wissner explains the difference between deflation and a recession and discusses: economic shocks, expectations, deflationary spiral, the contraction of the money supply, savings, velocity of money, private sector business sales, unemployment, confidence, and pessimism. He then talks about what to expect for the housing markets including: foreclosures, under water, housing bubble, total mortgage debt outstanding, bank credit, debt, promissory notes, assets, liabilities, Detroit, median price, jobs, work, employment, selling, rental, apartments, risk, Netherlands, and housing [...]