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Economists of the Austrian School understand that monetary expansion has the effect of making things more expensive than they otherwise would have been. At the root of the real-estate bubble was Federal Reserve monetary expansion funneled into the purchase of mortgages by Fannie Mae, Freddie Mac, and...
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Before this thread, goes off on tangents, that will answer the OP post, but probably serve to confuse the discussion generally. I will attempt to answer, for the op, you're friend, might prescribe to socialism, that is leaning more toward communism, that advocates workers rights, state owned enterprises...