Summary:Â Critics and fans alike have speculated about the side-effects of ZIRP and QE (zero-interest rate policy, quantitative easing) run since 2008. One likely effect is blowing asset price bubbles. Today we have an article by Mark Hanson, an expert who believes a new RE bubble has been blown. If so, the effects of it …
Summary: Many people look at the US economy since the crash and deny there has been a recovery. Or a “real” recovery. That’s false. This is the 5th in a series about our recovery; today we examine those parts of the US economy that have recovered — some even making new highs. That’s too bad …
Summary: Facing a new powerful rival presents a hegemon with choices. We can improve our game, reform, revitalize to meet the challenge. Or take refuge in fantasy, ignoring our weaknesses and exaggerating those of our rival. America has chosen door #2. Here we peer through the propaganda fog, seeking a better perspective on one aspect …
About China’s real estate bubble: fact and fiction Read More »
Summary:Â Since the first post here about the housing crisis in December 2007, it’s been described here as not just a central piece of the economic weakness but a illustration of our political dysfunctionality — our inability to use a crisis to identify structural weaknesses and generate the pressure for their reform. Here’s an update …
Summary: An important article at Harper’s, one every American should read, about the Mortgage Electronic Registration Systems (MERS), created in 1995 by the banks to circumvent property and mortgage laws in the US. “What’s happened is that, almost overnight, we’ve switched from democracy in real-property recording to oligarchy in real-property recording. There was no court …
An important article to read about another example of the fading rule of law in America Read More »
