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Monday, November 30, 2009

Homegrown Evidence of the Truths of Minsky's ideas

As discussed before on this blog, long-ignored economist Hyman Minsky discussed cycles of booms and bust as a natural tendency of free market economies. One of the 'phases' of such economies are hyper-risky ponzi scheme financing that eventually lead to booms that bust.

Our most recent example courtesy of my hometown of Indianapolis, IN

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