Ponzi, property and genuine wealth creation

Karl FitzgeraldCommentary, Hot IssuesLeave a Comment

photo credit: James Willamor Michael Hudson explores the analogous nature of Ponzi schemes and the property bubble. How is wealth created in the modern era? Through hard word, through who you know or what you ‘flip’? December 23, 2008 Last week the Good Lord evidently realized that not enough people had been reading Hyman Minsky’s explanation of how financial cycles … Read More

Commercial Property next US bailout industry?

Karl FitzgeraldCommentaryLeave a Comment

photo credit: °Florian C’mon you can’t be serious but that’s what the lobbyists are looking for with commercial property in dire straits in the US. The NY Times reports: Just as home loans were pooled, then carved up and sold to investors as securities over the last two decades, commercial property loans were repackaged for the financial markets. In 2006 … Read More