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Financial Bubbles

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Wall Street is buzzing, and it’s all about bubbles. In fact, according to Google Trends, interest in the term “stock bubble” was higher in November 2013 than anytime since October 2008. And that should be expected given that the Dow Jones just broke through the 16,000-mark while the NASDAQ sailed-past the 4,000 milestone for the... Read More
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Stagnation Hysterics
America’s “highest profile economist” thinks we need more asset bubbles to battle negative real interest rates and persistent secular stagnation. In a controversial post on his blogsite, New York Times columnist Paul Krugman argues that bubbles may be necessary to make up for insufficient demand, high unemployment, and sluggish growth. Here’s the clip from his... Read More
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Who Wins and Who Loses
Assets bubbles require massive amounts of leverage. But too much leverage can destabilize the system, so it needs to be regulated. But Wall Street doesn't like restrictions on leverage because it can make more money by borrowing like crazy, inflating a ginormous bubble, skimming off the profits, and cashing in before the crash. So, the... Read More
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