"look ......forget ranting about the house lot bubble":
"its all just part of the usury macro policy cycle
get it ?
USURY macro
is the major outcome when a homeostatic credit rationing system
is used to regulate wage rates
ya that's eccentrically phrased and deeply compressed
but
if not a house lot collateral buibble
what else can induce adequate effective demand ?
if wages are systemically suppressed
trade is out of balance
and
spontaneous market mediated income distribution
is ever more skewed toward high acumulators
not high spenders
we have either structural deficit or stagnation problems
reagan supply side got growth all right
in the value of relatively scarce assets
that
and the credit hop up
keeps brewing asset bubble trouble
asset bubble trouble
that is our present arrangement's middle names
my pal owen paine kicks this around so ....
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