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Is this what they are teaching in economics? That $2777/mo can magically cover a $470,000 mortgage. No wonder we are in this mess. "At any other time in histo
by bena 18y ago
Is this what they are teaching in economics? That $2777/mo can magically cover a $470,000 mortgage.
No wonder we are in this mess.
"At any other time in history, the idea of someone like me borrowing more than $400,000 would have seemed insane."
Apparently at this time in history too, we just found a way to hide it for a while.
- HSO 18y agoActually, this is precisely what they are not teaching in economics: That people are weak, stupid, and make mistakes. Instead it teaches that they are informed, rational decision-makers who carefully weigh their options and choose the one that maximizes "expected utility". Schmoo! This is why we are in this mess!