I agree with almost everything about this article except that the #HousingBubble and crash was only in 4 states, primarily, and yet, the #Fed took down the entire #subprime and commercial paper market making it depression-like. Also, the new gold of structured finance, bonds, are being hoarded like no tomorrow. That hurt mainstreet by crushing yield.
Did the Failure of Orthodox Economics Contribute to Trump’s Win?
I agree with almost everything about this article except that the #HousingBubble and crash was only in 4 states, primarily, and yet, the #Fed took down the entire #subprime and commercial paper market making it depression-like. Also, the new gold of structured finance, bonds, are being hoarded like no tomorrow. That hurt mainstreet by crushing yield.