Almost a year and a half ago, I wrote "A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance" about how unemployment could, in theory, become a ticket to free housing.
This week the Obama Administration made that scenario come true (Treasury link).
This week the Obama Administration made that scenario come true (Treasury link).
I never doubt this. He never respects economists' good advice. He may be intelligent and knowledgeable, particularly in politics, but he does not know economics.
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