the collapse of the housing bubble, implying a drop of between 11 and 22 percent in the average of housing prices, that will destroy between 1.3 trillion and 2.6 trillion in housing wealth.
More Quotes from Dean Baker:
The trustees' projections continue to show that the major threat to the economic well-being of future generations is rising health-care costs.Dean Baker
We've backed ourselves into a very dangerous situation. The economy is dependent on everyone consuming like crazy. If everyone heard my diatribe and said, 'Yeah, we better start saving,' the economy would go into a recession.
Dean Baker
If Medicare could negotiate directly with drug companies it could save the federal and state governments hundred of billions of dollars and cut insurance premiums.
Dean Baker
People talk about Nixon going to China -- you had this hard-line anti communist helping build up relationships with China, I would say it was like that only 5 times as much.
Dean Baker
is kind of (the oil companies') good luck. They didn't do anything to earn it. And we're sitting here with a 150 billion bill from Katrina.
Dean Baker
As you get higher interest rates renting is going to look better than buying.
Dean Baker
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I knew the wild riders and the vacant land were about to vanish forever... and the more I considered the subject, the bigger the forever loomed. Without knowing how to do it, I began to record some facts around me, and the more I looked the more the panorama unfolded.
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I forgave the DAR many years ago. You lose a lot of time hating people.
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