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Jeff,(I didn’t read the paper either)I think, in other words I don’t really know this, but it seems that the oversupply of capital is in part a result of excessive inflows of foreign investment, mostly in T-bills but also in the GSEs. Then too, these flows combined with excessive domestic capital formations. So it would also seem that these combined flows needed to be put to work somewhere. So if not in housing, elsewhere, or just a loss via interest paid. from's email

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September 17, 2019 - 05:24 PM
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  Free medical insurance beeeg In a possible warning to the Chancellor, Mr Carney said that heading off a credit or housing bubble will be a “challenging task” and “would be difficult to achieve if there were a host of government policies or other events that are pushing in the other direction.”
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September 17, 2019 - 05:23 PM
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September 17, 2019 - 05:23 PM
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September 17, 2019 - 05:23 PM
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