I wonder if you could more closely examine the role of low interest rates as a major cause. Risk cannot be properly priced (or controlled) when the central bank makes saving artifically cheap, as Greenspan did between 2001 and 2004. This is when sub-prime lending (and home prices) surged. Rather than make this a typical (driven by hindsight) social democratic push for more regulation, why not first talk about the role of the state in creating this crisis?
I wonder if you could more closely examine the role of low interest rates as a major cause. Risk cannot be properly priced (or controlled) when the central bank makes saving artifically cheap, as Greenspan did between 2001 and 2004. This is when sub-prime lending (and home prices) surged. Rather than make this a typical (driven by hindsight) social democratic push for more regulation, why not first talk about the role of the state in creating this crisis?
Our political economy deserves better!
ericclaptonismygod31 1 month ago
Keep these coming guys. Great stuff
cfoster84 1 month ago