Spain's housing bubble is the biggest in relative terms, with more than 90% of all mortages being ARMs.
Just take a look at this apartment in Madrid.
To: economist-student
"We need more deregulation in all sectors of the economy," he says. "We need more investment in research and development."Maybe we should offer this particular Hispanic a fast track to US citizenship.
2 posted on
06/09/2006 6:51:17 AM PDT by
ikka
To: economist-student
Record tax and social security receipts have encouraged the Socialist government to increase spending, excluding debt servicing, by almost 7 per cent this year. This, says Mr Pampillón, is contributing to inflationary pressures. It's the sole source of inflationary pressure along with easy money, another product of the government. Everything else is a market increase, not inflation.
3 posted on
06/09/2006 7:07:22 AM PDT by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: economist-student
For some time now, economists have warned that growth based on a property bubble and a consumer spending spree - both fuelled by cheap credit - cannot last. Demand side economic policies aren't sustainable the way supply side policies are, but governments around the world love it, because it always makes it look like they are doing something to push their economies along.
4 posted on
06/09/2006 7:10:17 AM PDT by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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