Saturday, Sep 26, 2009

Double bubble

FT: A risky revival

“It’s the last game of pass the parcel. When the tech bubble burst, balance sheet problems were passed to the household sector [through mortgages]. This time they are being passed to the public sector [through governments’ assumption of banks’ debts]. There’s nobody left to pass it to in the future.”

Posted by letthemfall @ 01:45 PM (945 views)
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1. paul said...

The whole concept of 'moral hazard risk' has completely disappeared from central banking terminology.

Saturday, September 26, 2009 02:10PM Report Comment

2. new_order said...

Central banking, central government, persecuting minority immigrants in France, single currency, easy movement of cheap labour between the member countries, wide wealth gap between conservative people and the normal, expansion of the public sector and the move to one European armed-force.

Didn't somebody try this in 1937?

Saturday, September 26, 2009 02:51PM Report Comment

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