This link has been bookmarked by 87 people . It was first bookmarked on 26 Feb 2008, by matthieutc.
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The new economy belonged to finance, insurance, and real estate—FIRE.
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The FIRE sector’s power grew unchecked as the old manufacturing economy declined. The root of the 1920s bubble, it was believed, had been the conflicts of interest among banks and securities firms, but in the 1990s, under the leadership of Alan Greenspan at the Federal Reserve, banking and securities markets were deregulated. In 1999, the Glass-Steagall Act of 1933, which regulated banks and markets, was repealed, while a servile federal interest-rate policy helped move things along. As FIRE rose in power, so did a new generation of politicians, bankers, economists, and journalists willing to invent creative justifications for the system, as well as for the projects— ranging from the housing bubble to the Iraq war— that it financed. The high-water mark of such truckling might be the publication of the Cato Institute report “America’s Record Trade Deficit: A Symbol of Strength.” Freedom had become slavery; persistent deficits had become economic power.
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Geoff EdwardsJanszen predicts the next bubble will be alternative energy infrastructure. | "Supporting this alternative-energy bubble will be a boom in infrastructure—transportation and communications systems, water, and power. In its 2005 report card, the American So
economics collapse failure history harper's energy environment housing economy business finance politics money usa infrastructure dissertation ***** investment
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That the Internet and housing hyperinflations transpired within a period of ten years, each creating trillions of dollars in fake wealth, is, I believe, only the beginning. There will and must be many more such booms, for without them the economy of the United States can no longer function. The bubble cycle has replaced the business cycle.
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Krispijn BeekBoeiend artikel over economische bubbles. Met als slotvraag wat wordt de volgende bubble? Cleantech?
finance economics bubble business economy energy politics 2008 environment cleantechnology
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Dante-Gabryell Monsonthe United States, free of the international gold standard’s limitations, now had great flexibility to finance its deficits with its own currency. This was “exorbitant privilege” on steroids. Massive external debts built up as trade partners to the
Economy Economics Finance WorldPolitics Corruption money MoneyReform Issues politics UnitedStates currency for:zellerdelicious for:mr..domnik for:meinhard for:synnovemathe for:guaka for:frateric for:janina.pasaniuc for:sanspek for:satkow for:cerenflo
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Michel Bauwensby Eric Janszen (Harper's Magazine): There will and must be many more such booms, for without them the economy of the United States can no longer function. The bubble cycle has replaced the business cycle.
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United States government to print new money simply to fund its own operations and pay its 22 million employees.
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