Do you know about - The Real Reason Subprime Triggered a Recession(As opposed to Peter Schiff's idiocy)
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The Real Reason Subprime Triggered a Recession(As opposed to Peter Schiff's idiocy) Tube. Duration : 14.97 Mins.We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Mortgage Interest Rates Today . Scott Sumner lays out a compelling case for a quasi-monetarist notion that money was much too tight in the 4th quarter of '08, turning what would have been a manageable drop in RGDP growth into a financial crisis and deep recession. It was the nominal shock that did most of the damage, meaning that even some solid loans were expected to be riskier as aggregate demand was collapsing during the financial crisis, all of which was avoidable. This is in sharp contrast to Schiff's dumbass Austrian fable about high inflation via low interest rates causing the build up of a credit bubble and then a "healthy" self-correction that would heal all if the government would just get out of the way. Of course, Schiff offers no evidence for his version of events. Sorry Peter, but because wages and prices are sticky, Say's Law doesn't apply to monetary economies and so your dumbass liquidationist notions are without support. If Say's Law did hold, inflation would never have real effects, no matter how much monetary expansion occurred. Had you actually known anything about economics, you wouldn't have taken a spanking in '08 that vastly exceeded that of even straight index investors. You were far worse than useless, just as now.
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