I apologize ahead of time if this post is a bit intemperate. Buried around a truism, the New York Times has produced a misleading and rather silly piece on the value of “predictions.” The thrust of the piece is that predicting the markets and the economy, especially in the short term, is fraught with...
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From the New York Times: Earlier this year, Mr. Bush derided a modest plan to provide $4 billion to states and localities to buy foreclosed properties, saying that buying up empty homes helps only “the lenders or the speculators.” Actually, it protects entire neighborhoods and local economies from the effects of foreclosures by preventing...
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