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Tax 'Em High | 74 comments (74 topical, editorial, 0 hidden)
Re: Tax 'Em High (none / 1)
So, what was the .com bubble inflated with? Cash that people happened to have lying around?

The (US) economy was going into recession as a result of the .com bubble bursting and then 9/11 happened and then Greenspan set real interest rates negative for 18 months "to avert a nasty recession", as well as encouraging domestic mortgage equity withdrawals. So a debt and land value bubble was created as a way to avert a recession.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Carrie (migeru at eurotrib dot com) on Fri Feb 27th, 2009 at 09:18:01 AM EST
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Tax 'Em High | 74 comments (74 topical, 0 editorial, 0 hidden)
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