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Article Image News Link • Global, Mandi Woodruff

All underwater homeowners eventually come to a crossroads: Either continue funneling money into a home that costs more than it's worth or strategically default –– ending their payments and waiting for the lender to foreclose.

Article Image News Link • Global, Joe Weisenthal

Richard Koo is the Nomura economist who is famous for his theory of the "balance sheet recession", the idea that busts like ours or Japan's are the result of the private sector deleveraging and need to be counteracted with aggressive fiscal policy.

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