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

By golfplan18   2013 Sep 16, 11:06pm   261 views   1 comment   watch (0)   quote      

http://ochousingnews.com/news/the-economy-of-the-00s-a-ponzi-scheme-based-on-housing-debt?source=Patrick.net

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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1   freak80     2013 Sep 16, 11:09pm  ↑ like   ↓ dislike   quote    

Shocked...shocked I tell ya.

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