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so, downstream of inopportune deflationary monetary policy...?
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that was the at least the third mistake first being the GSEs buying a couple trillion in bad loans after the private market collapsed in 05 the second being not imposing punitive measures on exploitative originators the latter may not have been good economic policy. but
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well why the fuck is this guy asking so much for his house then >:(
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I'm just surprised that anyone is surprised Lesson one: everyone sucks enema juice
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If people could possibly screw a good thing up, they will. If they already did once, HELL YES they're going to do it again
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The social contract in question being the vaguely jeffersonian homeownership structure? The concept (esp the wealth appreciation aspect) has some similarities to a pyramid scheme, but its ties to generational divides/labor-capital split matters too:https://phenomenalworld.org/analysis/deflation-inflation …
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no just the "the mandate of heaven is contingent on not having millions of people are thrown out of their homes" thing
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This is what a building collapse must look like to flies. The scale is so huge it only seems slow to us...
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