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what you describe may well be a terrible banking practice and will lead to a recession when the bubble in real estate pops.  But we still have 55% equity in our homes.  Far cry from 10X gold buggy hysteria.
by HiD on Fri Jan 19th, 2007 at 05:48:56 PM EST
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but it makes more sense if we are thinking in terms of the multiplier effect (a standard concept of classical macroeconomics).  

The Fates are kind.
by Gaianne on Fri Jan 19th, 2007 at 10:35:54 PM EST
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