We’re getting job creation in healthcare and educational services. We’ve been getting that all along. It’s demographically driven, it’s funded by the government, and that’s held up.
Mark Zandi Quotes
In a normal time, I don't think economic policy makes a large difference one way or another. But in times of crisis it makes all the difference in the world.
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Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
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There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made many mistakes over the decades, some of them real whoppers, but causing house prices to soar and then crater during the past decade weren’t among them.
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Today's Anniversary - 8th November
Births
- 1961 - Leif Garrett
- 1772 - William Wirt
- 1916 - Peter Weiss
- 1881 - Sir Norman MacEwen
- 1927 - Ken Dodd
Deaths
- 1978 - Norman Rockwell
- 1998 - Rumer Godden
- 1970 - Napoleon Hill
- 1988 - Kingman Brewster, Jr.
- 1994 - Michael O'Donoghue
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