It Actually Doesn't Feel at All Like 2006: Refusing to Learn the Lesson of the Housing Bubble

Heather Long had a column in the Washington Post telling us that "it feels like 2006." As someone who did his best to warn of impending disaster in 2006, I can say that it doesn't look at all like 2006. It is frustrating, but perhaps not surprising, that the economics profession and economic reporters have done their best to learn absolutely nothing about their enormous mistakes at that times. (Fortunately for them, economics is not an area where people are held accountable for the quality of...