Mike Segar/Reuters (original image modified)

One of the most important lessons from Econ 101: Nominal figures tell us nothing.

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​There were many underlying factors which contributed to both the financial crisis and the Great Recession. The trigger of crisis and recession begins with the burst of the housing bubble in mid-2007. As subprime mortgage default rates began to accelerate, overly leveraged financial institutions holding risky products such as mortgage…




AARoN MeDLiN

Doctoral student of Economics at the University of Massachusetts Amherst. Commentary, research and more at www.aaronmedlin.weebly.com

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