tag:blogger.com,1999:blog-2761684730989137546.post3392646865647715973..comments2024-03-18T19:09:18.510-04:00Comments on Mike Norman Economics: Days of Revolt: Junk Economics and the Future (2/2) — Chris Hedges interviews Michael Hudsonmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2761684730989137546.post-9372522768505350252016-03-31T10:45:24.477-04:002016-03-31T10:45:24.477-04:00"Its about price NOT quantity..."
I wou..."Its about price NOT quantity..."<br /><br />I would say neither Hedges nor Hudson nor probably Bill Black understand what this phrase means or how to apply it...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-36394476422160900262016-03-31T10:28:59.821-04:002016-03-31T10:28:59.821-04:00Bob, pre-2008 there were examples of 125% mortgage...Bob, pre-2008 there were examples of 125% mortgages in the UK. How long then? Damn quick is the answer. Before the post-1997 housing boom, negative equity was a huge problem in the UK. Repossessions were common - and banks didn't then (and don't now) want to repossess because it makes their balance sheets realistic.Johnhttps://www.blogger.com/profile/18181631191840432399noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-85036399353808724552016-03-31T07:59:41.772-04:002016-03-31T07:59:41.772-04:00When you borrow 90% of the purchase price, not ver...When you borrow 90% of the purchase price, not very long...Peter Panhttps://www.blogger.com/profile/09473311771939167712noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-57845357043141678802016-03-31T06:47:47.539-04:002016-03-31T06:47:47.539-04:00"HEDGES: If you miss a payment. Mortgages, wi..."HEDGES: If you miss a payment. Mortgages, <i>with many houses now underwater because of 2008</i>. "<br /><br />This is how incompetent/unqualified/stupid these people are they literally think a year can cause the price of a home to go down to a point below the balance of a loan against it...<br /><br />Tom, good label "junk economics"...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com