drieuxster (drieuxster) wrote,

MUST Read Economics.

Let me say what things I was "expecting," in the sense of anticipating that it was they were both likely enough and serious enough that public policymakers should be paying significant attention to guarding the risks that it would create:

(1) A collapse of the dollar produced by a panic flight by investors who recognized the long-term consequences of the U.S. trade deficit.


(2) A fall back of housing prices halfway from their peak to pre-2000 normal price-rental ratios.

I was not expecting (2) plus:

(3) the discovery that banks and mortgage companies had made no provision for how the loans they made would be renegotiated or serviced in the event of a housing-price downturn.

[ cf Why I Was Wrong... ]
The list of unexpecteds IS a MUST Read.

The referenced article at Hoocoodanode? is worth reading.

Or you can keep waving the Real Actual Imaginary Invisible Foot of the Free Trade In Free Markets around as your Talisman, since of course in One Tree Hill land, the most important part about the Permenant Capital Gains Tax Cut is how it brilliantly Militarilly defeats Gay HomoZexual Marriages...

And I am sure that would work well enough to win...

Or the Counter-Coup will restore the Balance of Terror to make True Friedmanesque Pure Capitalism the Truthier Form of Capitalism...
Tags: economics

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