blame: Who IS Really To Blame For The Mortgage Crisis
- 12/31/08 08:45 AM
For the fourth time I'm reading Fiat Money Inflation in France. This book details the fall of France in the 1800s due to it's failed monetary policies which were caused when they abandonded gold backed currency. I am struck by the similarity of what was being said by the pundits of their day and what is being said by our modern-day pundits. Their crisis was blamed on all the same culprits of today - mostly greedy investors and lenders. Greed in general as a motivating factor is often blamed but in reality people make decisions they perceive to be in their self-interest. … (1 comments)
For the fourth time I'm reading Fiat Money Inflation in France. This book details the fall of France in the 1800s due to it's failed monetary policies which were caused when they abandonded gold backed currency. I am struck by the similarity of what was being said by the pundits of their day and what is being said by our modern-day pundits.
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