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Housing Bubble Week Epilogue: Not All Bubbles Are Created Equal - Vernon Smith
The Joe Walker Podcast
The Importance of Borrowing Money in the Great Recession
In 2005, Ben Benanke was questioned about a housing bubble in the United States. He told CNBC that house prices were unlikely to decline on a nationwide basis. A little over six months later, the biggest US housing bubble began to burst. The chart explains why not all bubbles are created equal. It may explain why wealth inequality widened in its wake. And it at least partly explains why Donald J. Trump was able to ride a wave of popular resentment into 1600 Pennsylvania Avenue.
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