…policy. Bubbles are more likely than inflation due to labor income unable to push inflation. Bubbles come from owners of capital, whose income has rebounded extremely well since the crisis….

…of Bowie’s oeuvre had provided a level of patronage that’s inconceivable for a musician of Bowie’s bent today…he spent the Nineties as a free agent, jumping from label to label,…

…high cost of American health care. I begin by explaining the origin and meaning of the “single payer” label. I will then describe the two defects in S 1129 in…

…protects the public from food-borne illnesses. It issues nutritional advice and drug labeling guidelines. It polices false medical claims on packaging and in advertisements. It safeguards about one in every…

…saying the same thing. Bernanke argued (and I agreed) that low rates did not cause the housing bubble. We have had low rates without producing housing bubbles before. (Other asset…

…bubble … however, Bernanke didn’t discuss if non-traditional mortgage products contributed to housing bubbles in other countries. This would seem like a key missing part of the speech. I’m willing…

…not available for 2004. Sure enough, historically house prices have correlated well with household income. Two previous housing bubbles, the early ’80s and the early to mid ’90s, are clearly…

…ratios is wealth, which bubbles up and bursts down with asset prices, and that the main determinate of equity returns is the price earnings ratio, which bubbles up and bursts…

…same. Second and again, maybe there has been either bubbles or extremely low real interest rates since the productivity slowdown (starting 1973). That is maybe the housing bubble has lasted…

…more solidity to its longer run price. Of coures, technically speaking all fiat currencies that are not backed by a commodity are bubbles. They only have positive value because people…