That is, why governments need asset bubbles as the average real wage falls. See our post, America’s Bubble Dependent Economy.
This also goes a long way in explaining the reelection of President Obama even with stubbornly high unemployment and a weak economy — and also why the economy is so weak.
This also goes a long way in explaining the reelection of President Obama even with stubbornly high unemployment and a weak economy — and also why the economy is so weak.
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