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Posted on 11/20/09 at 1:25 pm to Tiger JJ
This is so absurd, enough to make anyone's blood boil.
Is there any instance in recorded history of a country getting out of a credit bubble by incentivizing its citizens to take on MORE debt?
For the life of me I can't comprehend why folks like Ken Rogoff, who studied these episodes back to 14th century England, get completely disregarded.
BTW, Jersey Tiger - I seem to recall your discussing housing in Kirkland, WA at one point. I can't find the thread but where in Kirkland were you looking? I used to own a house near 85th St and 124th Ave, about a mile north of that intersection. Bought in 04, sold in mid-08, wound up being quite fortunate timing.
Is there any instance in recorded history of a country getting out of a credit bubble by incentivizing its citizens to take on MORE debt?
For the life of me I can't comprehend why folks like Ken Rogoff, who studied these episodes back to 14th century England, get completely disregarded.
BTW, Jersey Tiger - I seem to recall your discussing housing in Kirkland, WA at one point. I can't find the thread but where in Kirkland were you looking? I used to own a house near 85th St and 124th Ave, about a mile north of that intersection. Bought in 04, sold in mid-08, wound up being quite fortunate timing.
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