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This is how I rationalize what I'm seeing. 10 years ago, we had the biggest recession anyone alive had seen. In general, that recession was due to "the housing
by geoduck14 6y ago
This is how I rationalize what I'm seeing.
10 years ago, we had the biggest recession anyone alive had seen. In general, that recession was due to "the housing crisis". The truth is more nuanced, but no one really looks deeper.
In April of 2020, we were on the verge of a recession. Everyone in charge - and I mean EVERYONE - remembered the Great Receasion of 2007/08/09 and that "the housing crisis" caused it. They ALSO knew that they would never live it down if "they" let a SECOND recession happen because of "housing" (whatever that means). They were OK with a recession for ANY reason - just NOT housing. Leaders all over the country accepted this: Democrats and Republicans in Congress worked quickly to pass a massive stimulus: Democrats didn't ask for too much, Republicans didn't cut too many corners. State Governors worked to approve unemployment. The CDC even prevented evictions.