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The flaws of the EU's asymmetric approach to imbalances | 132 comments (132 topical, 0 editorial, 0 hidden)
Re: preserve the present wealth distrib. . (none / 1)
asset-bubbles are great for those who have the resources to take advantage of them and then drop out at the most opportune moment.

Asset bubbles are just a usually longer term variation of the old stock market "pump and dump". They are fueled by rentier profits and massively unequal income distribution. In the USA, since the 70s, serial bubbles have largely replaced, in fact, the old investment driven business cycle, even if this awkward fact is not acknowledged by "mainstream economics".

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Jul 21st, 2011 at 08:51:25 AM EST
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The flaws of the EU's asymmetric approach to imbalances | 132 comments (132 topical, 0 editorial, 0 hidden)
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