Tag Archives: bubble
Redistributing Wealth to the Rich
The world’s more unbelievable and fantastical than anything we could imagine. Look around. Astounding things are taking place each and every day. For instance, earlier this week China’s richest man, Wang Jianlin, paid $28.2 million for Pablo Picasso’s painting of … Continue reading
Death of the Consumer and Other Miracles
Something peculiar is going on. One data point says the economy’s improving. Another says it’s floundering. Nonetheless, we strive to connect the dots and draw inferences as we go. For example, according to data released Tuesday, manufacturing and construction spending … Continue reading
Exercises in Futility
Something rather inconvenient is going on. Quite frankly, we don’t like it one bit. Despite all the assurances of robust economic recovery, the opposite appears to be happening. The economy isn’t climbing up. It’s slipping back. In fact, last week … Continue reading
The High Point of China’s Economic Boom
Sometime in the early 1980s, goes the popular lore, Chinese leader Deng Xiaoping looked out across the vast people’s communes and pronounced, “To get rich is glorious.” Suddenly, without hesitation, the people put down their rakes, walked off the farm … Continue reading
