“Are we heading for bubble trouble?” is the title of a May 10, 2013 New Yorker article.
[Click on link in previous sentence to access the article.]
Over the past year or two, I’ve been reading books seeking to account for the Great Recession of 2008. The near meltdown of the world economy in 2008 is a topic of interest for many people.
More recently I’ve been following stories at the CBC and Globe and Mail websites concerning the current economic landscape and what may be on the horizon.
For your interest, here is the opening sentence of of the May 10, 2013 New Yorker article by John Cassidy for which a link is provided in the first sentence of this blog post:
“With the Dow topping fifteen thousand and long lines forming down my block to inspect a two-bedroom apartment that is going for the shockingly low price of under a million dollars, it’s hard not to think of the “b” word: bubble. Whatever else, the Fed’s policy of “quantitative easing” may have accomplished, or not accomplished, it’s certainly given a bit more juice to the Brooklyn real-estate boom.”
CBC column: “The secretive world of printing money”
The topic brings to mind a May 2, 2013 CBC website article by Neil Macdonald entitled “The secretive world of printing money.”
The article concludes with the following clarification:
Corrections and Clarifications
- Clarification: This article has been amended to make clear, as earlier columns in this series and the CBC documentary ‘Monarchs of Money’ did, that while the Bank of Canada has been maintaining a low interest rate policy it has not been one of the central banks that have been printing money and buying financial assets in the attempt to reflate the global economy.