Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
A country can be looted very easily. Only thing you need is credit and mortgages and you can extract much more rent than from resources ever. There are always willing oligarchs; real estate "developers," construction companies, local banks, local politicians to join the looting. When rents and prices bubble, media and economists celebrate huge "wealth creation."
by kjr63 on Fri May 6th, 2011 at 04:17:05 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Occasional Series