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Hanging on to our assets : Comments
By John Turner, published 26/8/2010The global financial crisis could prove to have been a minor hiccup compared to what may be ahead.
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Foyle you appear to making heavy weather of this. I think it would be more honest for you to be asking Hume for his references, rather than giving him yours, don't you think?
Posted by Jefferson, Monday, 30 August 2010 9:54:46 AM
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PH is right. Foyle is arguing the broken window fallacy
http://www.la.org.au/liberty-lesson/broken-window-fallacy-0 http://www.econlib.org/library/Bastiat/basEss1.html Posted by Sienna, Monday, 30 August 2010 2:17:22 PM
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Actually I believe John Turner has got the reason for the cost of
housing wrong. When the banks and other lenders were forced by government to lend on two incomes that doubled the amount of money available. Does anyone other than me know what happens in a market when the amount of money doubles ? The sisterhood thought they were doing themselves a favour, instead they lost the choice to work or not, and sociologists wonder why women are having babies in their late thirties instead of twenties. Borrow on two incomes, you must have two incomes to repay the debt ! Simple isn't it ? Posted by Bazz, Monday, 30 August 2010 3:57:10 PM
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