House of Debt

House of Debt

How They (and You) Caused the Great Recession, and How We Can Prevent It From Happening Again

Book - 2014
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Publisher: Chicago ; London : The University of Chicago Press, ©2014.
ISBN: 9780226081946
9780226138640
Branch Call Number: 330. 973 MIA
Characteristics: 219 pages : illustrations ; 24 cm.
Additional Contributors: Sufi, Amir - Author

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r
roystreet
Feb 21, 2015

This is an excellent unbiased corrective to the idea that government's first job in balance-sheet depressions is to "save the banks." What went wrong in the housing market, and what can we do to prevent its recurrence? Read the answers here.

j
jaycrossing
Jan 02, 2015

I read a few chapters, despite the fact it was written by Ivy League professors, and finally called it quits. This is pure liberal spin . . .

s
StarGladiator
Jul 01, 2014

The book states: // the total amount of debt for American households doubled between 2000 and 2007 to $14 trillion? \\ According to several Federal Reserve studies, between 1997 to 2007, around $23 trillion in securitized debt was sold by the bankers. So perhaps $7 trillion out of the $23 trillion was household debt, but we are talking about securitized debt, so that is a layered debt construct! See the difference? The authors make any number of contradictory statements, under the seemingly appealing aegis of the bankers as bad actors - - which, of course, was/is true! They suggest that we get away from money-as-debt structures, while continuing to allow the elites to control the creation of money-as-debt?!?!?!? These guys are meaning to confuse us, or else they are simply fools.
When they create money-as-debt, then use layers of debt for speculation and further business endeavors, they are driving up costs upon costs and therefore negating anyone's value from their production [work, et cetera]. The entire concept of fair value is subject to their whims, which is to always destroy it, as they destroy surplus capital!

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