More and more underwater borrowers are deciding it’s time to walk from their mortgage. “Guilt and morality are one side, and objective financial analysis are on the other side,” 68-year old David Martin told msnbc. “They’re coming to two opposite conclusions. I wonder how many other people are struggling with the same question.”
I thought fellow Austrians would be interested in an excerpt from Krugman’s 1997 paper in Foreign Affairs, “Is Capitalism Too Productive,”
…the Mises Academy!
State Senator Tom Davis (who also just endorsed Ron Paul for president) of South Carolina (which is about to have its primary) posted this on his Facebook page last Tuesday:
The ongoing financial and economic crisis has not only stoked fears that it will end in inflation — as central banks will print up ever-greater amounts of money — but it has also given rise to a diametrically opposed concern: namely, that of deflation.
For instance, in December 2011 Christine Lagarde, head of the International Monetary Fund (IMF), warned that the world might risk sliding into a 1930s-style slump, such as the Great Depression.
