The feds created it by promising to repay any monies lost thus investors became willing to accept more risk and became sloppy in their homework. Worse, via the community re-investment act, it became illegal for investors to deny loans to risky folks.
not exactly. the feds enabled it.
Trade deficit scheme? What, pray tell, is that?
you aware of the trade deficit which keeps on growing. china is sitting on 2 trillion and japan and a trillion. some of this trade surplus comes back to the usa to buy things like T-bills. awhile ago i read a report that dealt with the reluctancy of some members of opec and south korea to continue buying interesting bearing american paper. the elite were almost in a state of panic over this.
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