Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The capture of an increasing share of revenues by financiers was also made possible by giving the rest of the population access to more debt, thus allowing them to keep on consuming despite stagnant revenues, further creating demand for financial instruments.

Why pussyfooting around the bush? It's stagnant real wages.

We have met the enemy, and he is us — Pogo

by Migeru (migeru at eurotrib dot com) on Mon Dec 10th, 2007 at 01:00:55 PM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series