Why did it take you so long to realize this? Americans made homeownership the social safety net in lieu of having a broader social safety net. Acceleration of home appreciation in the 80s coincides with the fraying of other parts of the social safety net.https://twitter.com/noahpinion/status/937747372284682240 …
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of course it's a quip - a false form of Keynesianism. provides access to cheap credit in order to offset stagnant wages and deteriorating public services.
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and on the other end, produces debt instruments for financial markets...
End of conversation
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