Morning Must-Read: Dean Baker: The Housing Bubble and the Financial Crisis #25,452

…it’s hard to see a candidate. Brad’s pick of non-residential investment doesn’t hold water. Perhaps we can claim a bit better picture on net exports if people had not turned to the dollar as a safe haven, but this involved many factors other than the financial crisis. Also, the conscious decision of foreign cental banks to prop up the dollar to sustain their export markets has to swamp this effect. I stand by my housing bubble assessment.