Category Archives: housing bust

The Big Lie at the Heart of “Inside Job”

Read about it here.  HT Instapundit.

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QUESTIONS FOR BEN BERNANKE FROM DAVID BECKWORTH

On the housing bubble and Bernanke’s Global Saving Glut Hypothesis.

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GRAPH OF THE DAY

From John Taylor’s Getting Off Track via The Everyday Economist.

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YES, THEY HAVE LIED TO YOU ABOUT HUD, FREDDIE & FANNIE, THE CRA, ETC.

Peter Wallison speaks truth to dishonest economists and journalists everywhere. You know who you are. We will never have an economics profession — or a press corp — with a capacity for truthful public debate unless those who pollute the … Continue reading

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Vernon Smith on housing & the trade cycle

Housing production* is exactly the kind of thing Hayek identified as a time delayed production good which can absorb credit, capital, and leverage in a bandwagon of false expectations, only revealed as structural malinvestments at the end of the artificial … Continue reading

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“[During the artificial boom] credit expansion has gone to where government directed it”

Edward Leamer and Russ Roberts have explained how the boom/bust cycle has been shaped by government policy, and directed into such sectors as housing and finance.  In Hayek’s economics housing is a long-term production good, an open target for malinvestment … Continue reading

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