[lbo-talk] more on the nonexistent credit crunch

[Michael Perelman]

Isn't it possible to say that the basis for the crisis is in the real 
sector without being an advocate of real business cycle theory?  Lack of 
perceived sufficient profit in real investment or in traditional banking 
led to an excess of financial practices that set up the credit cycle.  Once 
the credit crunch set in, of course, it had an undeniable impact.

 -- 
Michael Perelman Economics Department California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com