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ivyficThis week's This American Life is on the sub-prime mortgage crisis. I've never had it explained to me in a way that made sense before, but this is really good reporting. And jesus, I had no idea how bad it really was. I'd be interested if any of you who have been paying attention to this stuff can say how good an analysis this is.
As they point out, people of my generation have never been alive when the U.S. economy wasn't growing. When I was hearing about this initially, I was just figuring it was something like the recession after the dot-com bubble burst, but they're pointing out that this is more like the recession in the seventies. You know, the one with stagflation, gas rationing and a general sense of malaise? Yeah. Welcome back to the seventies.
As they point out, people of my generation have never been alive when the U.S. economy wasn't growing. When I was hearing about this initially, I was just figuring it was something like the recession after the dot-com bubble burst, but they're pointing out that this is more like the recession in the seventies. You know, the one with stagflation, gas rationing and a general sense of malaise? Yeah. Welcome back to the seventies.