How the US became a bubble economy

The policymakers are carefully avoiding the 'b' word, preferring to describe the US as an 'asset-driven economy'. But the ugly truth is that the US is now in an economic bubble. How did it get there? And what next?

What is the difference between those housing bubbles of the 1970s and the late 1980s and the US housing bubble of today? There are four decisive differences.

Why is the housing bubble different this time?

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