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View Diary: Killing Sacred Liberal Cows, or What Economists Think About the Economy (105 comments)

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  •  The "Dismal Science" (0+ / 0-)

    I don't know much about economics.  I think it is called the "dismal science" because economists are so often wrong, and so rarely agree with each other.

    After all, wasn't Ben Bernake convinced that banks should be allowed to bundle mortgages together to form a unique investment product?  And that turned out really bad.

    I am thinking there is a large positive correlation of the expense of the house and the size of the loan.  But what do I know: I am not an economist.

    "The fool doth think he is wise: the wise man knows himself to be a fool" - W. Shakespeare

    by Hugh Jim Bissell on Thu Nov 15, 2012 at 12:51:46 PM PST

    [ Parent ]

    •  Then cap it. Don't kill the weak housing rebound. (1+ / 0-)
      Recommended by:
      tardis10

      And eliminating corporate taxes is just plain wrong.

      look for my eSci diary series Thursday evening.

      by FishOutofWater on Thu Nov 15, 2012 at 02:03:19 PM PST

      [ Parent ]

      •  Eliminating corporate taxes makes sense (0+ / 0-)

        ...if all Americans benefit equally from corporations.  But we don't.

        The direct benefit of incorporation is legal protection from personal bankruptcy and liability.  That's useful for business, I guess.  But it allows the owners of a business to cap their losses and leave the whole country to sweep up the debris--privatizing the profit and sticking the public with the losses.

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