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> Anyone who says they know exactly what went wrong with the current crisis The primary cause boils down to monetary policy. Financial panics are not new. Th
by kingkongrevenge 18y ago
> Anyone who says they know exactly what went wrong with the current crisis
The primary cause boils down to monetary policy. Financial panics are not new. There have been many, and they were all caused by credit bubbles. Regulatory details and the exact nature of the scams run during the bubble are quite secondary.
- byrneseyeview 18y agoI have heard this a lot, and I'd like the other side to chime in: have there been any bubbles that happened while interest rates and the money supply were generally decreasing? Lots of people dismiss your view, but such a bubble would be strong evidence that they're actually right.