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recent bookmarks from asterisk2aThe ten graphs which show how Britain became a wholly owned subsidiary of the City of London (and what we can do about it) – New thinking for the British economy2017-05-09T01:57:18+00:00
https://www.opendemocracy.net/neweconomics/the-ten-graphs-which-show-how-britain-became-a-wholly-owned-subsiduary-of-the-city-of-london-and-what-we-can-do-about-it/
asterisk2a> But it doesn’t increase the productive capacity of the economy one iota: a more expensive house doesn’t produce more intelligent children, and a higher share price doesn’t boost a company’s productivity (though it can indirectly boost its capacity to raise funds for investment). [...] Debt-financed asset purchases are thus fundamentally a Ponzi activity: // not just tight housing supply is increasing prices, but also easy credit/debt/mortgage market! // [...] ultimately, there is a limit to just how much debt individuals and corporations can take on – even with low interest rates]]>UK ZIRP NIRP QE housing market mortgage household consumer debt disposable income servitude GFC recovery wage growth Ponzi asset capital Kapital BOE credit card affordable social servicing default rate insolvency speculation unintended consequences economic history consumption secular stagnation Brexit policy fiscal monetary Mark Carney underinvestment productivity R&D Career Politicians Margaret Thatcherhttps://pinboard.in/https://pinboard.in/u:asterisk2a/b:86da1b4c426d/