United Liberty
From an email by Professor Mark Thornton:
Some might find this useful. Misesian economics goes a long ways! -
Housing Bubble
Postscript to Mark Thornton’s “The Economics of Housing Bubbles”
Wed, 10/08/2008 - 12:15pm | posted by Shana Kluck
The Housing Bubble and the Environment: Unintended Consequences
Tue, 03/17/2009 - 6:37am | posted by Dr. Charles Kennedy
An article in the Sunday, March 15 edition of The Birmingham News, entitled “Lots crumble and mud flows”, discusses some of the complications resulting from the plethora of unfinished housing projects that have been put on hold in the current economic crisis. The problems include excessive runoff and mud flows, crumbling roads without a final seal coat, empty houses in various stages of construction, construction debris posing safety hazards, and other various forms of pollution. Curiously, nowhere in the article does its author acknowledge that most of these housing construction projects are the result of a housing bubble.
Ron Paul’s opening statement at the House Financial Services Committee
Fri, 02/27/2009 - 12:45am | posted by Shana Kluck
“This is the end of an era. We can’t reinflate the bubble….if we think that we can reinflate this bubble by artificially creating credit out of thin air and calling it capital, believe me we don’t have a prayer of solving these problems - we have a total misunderstanding of what credit is versus capital.”
