Saturday, September 26, 2009

Double bubble

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 (990 views)
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2 thoughts on “Double bubble

  • The whole concept of ‘moral hazard risk’ has completely disappeared from central banking terminology.

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  • 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?

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