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The return of a housing bubble
08 May, 2018, C.P. Chandrasekhar & Jayati Ghosh
While household balance sheets are not rid of the debt accumulated in the years preceding the 2008 crisis, there are signs that purchases financed with new debt are leading to a fresh bubble in property markets.
Bubbles, Stocks and Crashes
21 February, 2018, Prabhat Patnaik
What the current U.S. experience shows is not only the role of bubbles in sustaining the level of activity under a neo-liberal regime, and hence the fact that the lives of millions depend upon the whims of a bunch of speculators, but also the completely evanescent and short-lived character of the booms in this period.
Moody's Upgrade
20 November, 2017, Prabhat Patnaik
The slight upgrade of India’s credit worthiness by Moody, that equates finance with nation, is being celebrated by the media as a mark of Modi’s success, but the criteria it has used to judge are in actuality open assaults by the government on the working population. To transcend such neo-liberal capitalism, the wrongness of this criteria must be understood first.
The Bursting of China's Housing Bubble
28 April, 2015, C.P. Chandrasekhar & Jayati Ghosh
The party is over in China's real estate markets, but the policy makers are trying to revive it through financial deregulation and monetary easing that is unlikely to work.
The Bursting of the Asian Housing Bubble
28 May, 2013, C.P. Chandrasekhar & Jayati Ghosh
Housing prices in many developing Asian countries soared after the Global Financial Crisis, but the recent trends suggest that they may be tapering off and even declining.
China's Exploding Debt
12 March, 2013, C.P. Chandrasekhar
Amidst the ongoing global financial crisis, a potential financial market threat is looming in China which is based on “shadow banking” lending to real estate sector.
Prospects for the World Economy in 2012
27 December, 2011, C.P. Chandrasekhar & Jayati Ghosh
: 2011 revealed that the much vaunted economic recovery after the Great Recession was not inherently sustainable, as the recent problems of global capitalism, including those associated with excessive debt build-up, were reflected in new areas and caused economic slowdown across the world. Against the backdrop of economic trends in 2011, this article assesses the prospects for the world economy in 2012.
A Perspective on the Crisis
18 October, 2008, Prabhat Patnaik
After the demise of the Keynesian policies, the world economy has been dependent upon private expenditure for boosting aggregate demand. The consequent boom causes deterioration in the conditions of people in the third world, while the crash also adversely affects them. The present financial crisis also will have a similar impact on the masses of the third world.
An Insider View from George Soros
29 April, 2008, C.P. Chandrasekhar
Among some of the influencial voices which are calling for more attention to the nature of the current US financial crisis and for a more disinterested view of the need for state intervention, is that of George Soros. His book The New Paradigm for Financial Markets: The Credit Crash of 2008 and What it Means, being released in May, challenges the prevailing sanguine view on the intensity and implications of the crisis. This piece is based on a reading of the digital edition available from various ebook sellers and his recent speeches.

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