A few weeks old but spot-on:

The combination of severely negative real interest rates and inflationary pressure forced people away from fundamental investing and savings into all forms of highly leveraged speculation. The real estate bubble was one consequence, but it was really just part of a much larger bubble in leveraged finance and speculation in all asset markets, from LBOs to commodities to hedge funds.

Comments: Be the first to add a comment

add a comment | go to forum thread