“Not only did Federal Reserve actions stoke the housing boom, but transcripts released by the Fed make it clear that they entirely missed the magnitude of the problem of the housing bubble and failed to anticipate the ensuing crisis. This occurred even with diligent and constant economic forecasting by scores of intelligent and well-intentioned Ph.D. economists, armed with all the computers and databases they could desire, and earnest discussions of the outlook by senior officials. “
Thursday, August 16, 2012
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1 comment:
Murray sez:
Did they miss it or was this part of the grand plan?
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