By Dean Baker, PoliPoint Press. Posted February 7, 2009.
Anyone with common sense, a grasp of simple arithmetic and a desire to go against the consensus should have seen the financial crisis coming.
Naomi Klein: Public Revolt Builds Against Rip-off Rescue Plans for the Economy
Naomi Klein
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Editor's Note: The following is an excerpt from Plunder and Blunder: The Rise and Fall of the Bubble Economy by Dean Baker, published by PoliPoint Press, 2009.
Facing Foreclosure? Don't Leave. Squat.
By Amy Goodman, Democracy Now!
Posted February 6, 2009.
My parents bought a brand new house almost forty years ago for $39,000. It had five bedrooms, three full bathrooms, a living room and a family room, 26,00 square feet, and it was in a nice neighborhood. They raised their kids in it and maintained it well. Still, when they told me a few years of years ago it was worth $750,000 I knew the economy was in deep shit, and that the price was overinflated.
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