The Democrats' dilemma on the economy - Washington Post (blog)

The Democrats' dilemma on the economy
Washington Post (blog)
The housing bubble started inflating in the late 90s as the equity bubble went critical. The mess of derivatives that blew up on Wall Street had assets that ...

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Potential for Double-Dip Recession Seems Small - New York Times (blog)

Potential for Double-Dip Recession Seems Small
New York Times (blog)
And the bursting of the housing bubble in 2007-08 led to a broad financial meltdown that prompted the latest recession. However, according to the FDIC's ...

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The Slump Goes On: Why? - The New York Review of Books

The Slump Goes On: Why?
The New York Review of Books
From 1997 to 2007, housing prices rose 175 percent in the United States, 180 percent in Spain, 210 percent in Britain, and 240 percent in Ireland. ...

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Incompetents at the IMF - CounterPunch

Incompetents at the IMF
CounterPunch
... that the United States and other wealthy countries are running large deficits is that we had a huge housing bubble that burst and sank the economy. ...

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Krugman and Wells Offer Econ 101 on the Great Recession - Firedoglake (blog)

Krugman and Wells Offer Econ 101 on the Great Recession
Firedoglake (blog)
Krugman and Wells list four reasons for the housing bubble – the Fed's low interest-rate policy, the “giant pool of money” globally invested into ...

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Consumer Spending? Be Careful What You Wish For - Roubini.com (subscription)

Consumer Spending? Be Careful What You Wish For
Roubini.com (subscription)
We need to be careful with this logic as it is the same kind of reasoning that helped create the housing bubble in the first place, that is that cheap ...

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FDR and Labor: Earning Our Way Out of the Great Recession - Huffington Post (blog)

FDR and Labor: Earning Our Way Out of the Great Recession
Huffington Post (blog)
As a result, when the crash came and the bubble burst, the earning capacity of the average American was simply not strong enough to lift the country out of ...

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Bailout may not be enough - Hamilton Spectator

Bailout may not be enough
Hamilton Spectator
Both the United States and Britain avoided such a move by taking stakes in their troubled banks and, in the case of Britain, insuring their worst-performing ...

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Reports conflict on housing bubble possibility - CBC.ca


CTV.ca
Reports conflict on housing bubble possibility
CBC.ca
... protect against a housing crash similar to the one that has hammered the market in the United States. A debate over whether Canada has a housing bubble ...
Housing bubble? No bubble? What do you think? Vancouver Sun (blog)
Housing prices due to fall, says think-tank Toronto Star
US style surge in foreclosures unlikely in Canada: report Calgary Herald

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Bernanke Rejects Criticism Of Fed As Cause Of Financial Crisis - RTT News

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"Hawaii is not a state of mind, but a state of grace."

by Paul Theroux

This Day In History

Brazil: the largest country in South America declared its independence from Portugal (1822)