Yup, and it's important to understand HOW the rich are pulling money out of the backs of the working quintiles aka paycheck economy.
Real Estate? Trillions in an asymmetric flow from sucker rent-slave (and let's not forget the small business owner needing retail space is also one of these) to an entitled owner.
Health Care? Twice the profit margin on the health goods and services provided vs. the rest of the world. Maybe a trillion being pulled out of the paycheck economy, all those dentists with their investment clubs is an indication of the imbalance.
Corporate profits in general is close to $1.8T/yr, that's money that could have gone into paychecks but sure as hell isn't now.
Even Piketty didn't analyze these flows all this well AFAIK.
y/o/y inventory increase and not decrease for those cities.
there can be an increase, but it's not going to be enough to meet pent-up demand.
and that's before we get everyone leaving BK/default jail starting around now, or the fact that the top half of Gen Y is age 25-34 next year, while the boomers are still in their houses, with the median boomer at age 61, still a year away from early SSA retirement.
Wish I could dig up my old analysis of the market, I had one with 4 - 5 different cases.
Didn't foresee the case of low overall inflation ($3 gas! In 2006 I thought it'd be $6 by now!) low interest rate environment, long-term ZIRP, yet a rock-solid economy (for the top 2 quintiles at least).
Don't know how much of the boom is just social media work, but damn if that didn't exist 10 years ago. Google was barely on anyone's radar then. Well, it had risen 4X over its IPO, not too shabby.
People are free to form new parties, but that is a losing battle, it's much more effective to just change the policy platform of an existing major party that already has major mindshare and power centers.
That's what happened to the GOP, 1964-1994, they went from centrist to the far-right of Gingrich and Rove, picking up the racist south and midwest, plus the 'family values' idiots who were Democrat stalwarts prior to the Nixon/Reagan transition.
People here who have the beginning of a semblance of a clue are maybe 5% of the population. People who think they understand great Inner Party truths but in reality are just walking examples of the Dunning-Kruger effect are around 60%. The remaining 1/3 are the muddled middle too busy or ground down by the ratrace we call an economy to care one way or the other.
The nordic eurosocialist utopias have some pretty deep imbalances and idiocies, but what % of the country here even gets exposed to the barest of facts about them, or Germany, UK, Canada and Australia's socio-economic situation and recent socio-economic lessons? 1%. Probably not.
Everybody here is mentally confined into very small ideological and historical fenced pens, where the gamut of opinion runs from MSNBC to FOX, or America Now! and rightwing talk radio if you're really adventurous.
An idiot electorate is a manipulated electorate. And we're so, so idiotic.
this is what Trump is on about vis-a-vis China and Mexico
Actually, here's the top 10 deficits for 1H15:
1 China -$31.5B on $226B imported
2 Germany -6.4 on $60B
3 Mexico -6.1 on $145B
4 Japan -5.2 on $65B
5 Vietnam -3.0 on $18B
6 Korea, South -2.5 on $37B
7 Canada -2.5 on $150B
8 Italy -2.4 on $22B
9 Ireland -2.4 on $19B
10 France -1.7 on $23B
Why don't you explain how excessive debt caused the fed to need 0% interest rates?
Federal debt to GDP was 30% in 1980, and in the 60%s in the 1990s - 2007.
It's been just above 100% since late 2012.
At 100% debt to GDP, each pp rise in the interest rate paid on the debt is essentially a 1% of GDP negative growth applied to the economy, as interest payments mostly vanish from the economy since the debt is held by "savers" not spenders.
We're actually not quite at 100% debt to GDP, since there's $4T of intergovernmental debt, $7T of non-held-by-public debt if we count the Fed, and we should.
at a time when it becomes difficult to build more freeways/airports without it being completely useless
There is urban china with 3 populations of United States, and rural China with another population of United States.
China's ghost cities are out in the sticks, in an attempt at remote localities drumming up new immigrants.
Chongking, Hubei and Hunan have a population of 150M total and these are just 3 medium-density provinces.
I haven't been any closer to China than Seoul, but a nation of 1.35 billion people who came out of the economic dark ages in 1985 still have a massive amount of infrastructural investment to work on 30 years on.
"all extra profits will go to the top, because the job market doesn't require us to pay more wages".
demographically, China is going to run out of 20 yos:
well, see that group fall 30% from the peak at least.