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The causes of the crisis are complex, but home building was driven by cheap money from low interest rates. Had it not been, the bubble would have burst long ag
by rjurney 18y ago
The causes of the crisis are complex, but home building was driven by cheap money from low interest rates. Had it not been, the bubble would have burst long ago. The fed put the petal to the metal for a long time, and kept it there because they knew housing was saving us from recession.
- jibiki 18y agoFunny, I always thought the expression was "pedal to the metal", guess I've never seen it written... To be fair, low interest rates were meant to encourage investment across the board, not just in houses. Your point, of course, is still totally valid.
- rjurney 18y agoIt is pedal to the metal. You got me grammar man! ;)