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Old February 15th, 2014 #19
Alex Linder
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Join Date: Nov 2003
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Reading thru some college papers from an international economics course...

Quote:
Was the root of the housing bubble lax lending standards, the creation and rapid popularity of new financial products which attempted to minimize the riks of what one would refer to now as a "subprime loan," or was it the naievete of the American consumer who thought we were in a new economic era where house prices could only go up from here?
Good example of why college economics is pretty much worthless: the real explanation is off the table. You can blame consumers or businesses, but never the government for counterfeiting money.