Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The frugal people who've kept their houses in order is a good cover for rentiers, financial sharks. The output gap is alomost a derivative of the rentier power gap.

Nothing wrong about getting return on capital... in normal times. But when debt entitlements are sacred regardless realistic  social-economic conditions, this is basically an end of the free market and democracy.

by das monde on Tue Jul 22nd, 2014 at 10:11:10 PM EST
[ Parent ]

Others have rated this comment as follows:

afew 4


Occasional Series