Despite reports that the recession may be over, the unemployment rate is more than ten percent and home foreclosures are at a record high. Itβs no secret that the U.S. economy is in shambles because of the recent housing bubble. However, according to Dean Baker, Co-Director of the Center for Economic and Policy Research, the people who looked the other way as the eight trillion dollar housing bubble grew unchecked are trying to rewrite history by downplaying the impact of the bubble.
In Bakerβs new book, False Profits: Recovering from the Bubble Economy, he recounts the strategies used by the countryβs top economic policymakers to keep the American public unaware of their failure to recognize the housing bubble and to take steps to rein it in before it grew to unprecedented levels, resulting in the loss of millions of jobs, homes, and the life savings for tens of millions of people.
Media Buzz
Diane Rehm Show - NPR - April 20, 2011 Diane Rehm Show - NPR - April 19, 2011
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