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by grandalf
6204 days ago
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not sure why this was modded down. The bubble was due to perverse incentives to invest in housing debt (massive mortgage interest deductions, implicit underwriting of fannie/freddie, etc.) Based on many quotes that are starting to surface from Paul Krugman, there were a lot of serious economists who thought that creating massive incentives for investment in the housing sector was a good idea: http://blog.mises.org/archives/010153.asp |
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