The economy of the 00s: a Ponzi scheme based on housing debt

By golfplan18   Follow   Mon, 16 Sep 2013, 11:06pm PDT   173 views   1 comment   Watch (0)   Share   Quote   Permalink   Like (1)   Dislike

The headline of today’s post is not news to anyone who reads this blog very often, but for many, including some academic economists, this basic understanding comes only after years of study of the aftermath. Perhaps I expect too much of academics. They are supposed to be very smart people, or we wouldn’t entrust them with the education of future generations, but sometimes the lack of common sense is truly remarkable. Today’s featured article appeared in the latest addition of Capital Ideas, a publication of the Booth School of Business at the University of Chicago. I will translate the lofty...


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freak80   befriend   ignore   Mon, 16 Sep 2013, 11:09pm PDT   Share   Quote   Like   Dislike     Comment 1

Shocked...shocked I tell ya.

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