Bubbles

WELLS: How Harper makes a mockery of the money our bosses spend on covering him

No one held our gaze like him

Oh, to be back in 2005:

When the dot-com bubble burst in 2001 and the economy entered a recession, it wasn’t long before a new bubble started to grow and fill the void—money started pouring into the housing sector. That, somewhat predictably, burst even more spectacularly than the Internet one. So, what’s next?  There’s a pretty strong argument that yet another bubble is being primed. What it will be is still unclear (could it be infrastructure or alternative energies?). But like it or not, the bubble cycle could well be finding a permanent place in our economy—a kind of vicious cycle.  The most complete, and interesting, argument appeared in Harper’s earlier this year (it is worth reading in its entirety).

Jeff Harris goes behind the scenes