Robert Lucas, Jr. Quote

So I am skeptical about the argument that the subprime mortgage problem will contaminate the whole mortgage market, that housing construction will come to a halt, and that the economy will slip into a recession. Every step in this chain is questionable and none has been quantified. If we have learned anything from the past 20 years it is that there is a lot of stability built into the real economy.


"Mortgages and Monetary Policy", The Wall Street Journal WEDNESDAY, September 19, 2007


So I am skeptical about the argument that the subprime mortgage problem will contaminate the whole mortgage market, that housing construction will...

So I am skeptical about the argument that the subprime mortgage problem will contaminate the whole mortgage market, that housing construction will...

So I am skeptical about the argument that the subprime mortgage problem will contaminate the whole mortgage market, that housing construction will...

So I am skeptical about the argument that the subprime mortgage problem will contaminate the whole mortgage market, that housing construction will...