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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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[quote user="Smiling Dave"] What of those who have actually predicted things? Were they just lucky guesses? [/quote] The short answer is, yes, plain old luck. It is also worth checking very closely as to what someone claims that they have predicted. Go back and check what they actually said...