Sabbatical Day 44

02 Mar

Read Bernanke’s speeches during the housing bubble.  He barely acknowledged that the red hot housing sector was red hot.  The Fed chairman mentioned that housing prices were rising but that there would be a soft landing.  Started reading a monograph by sociologists, Why the Federal Reserve Failed to See the Financial Criss of 2008: The Role of “Macroeconmics” as a Sense making and Cultural Frame.  A mouthful of a title.

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