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The other factor is that the increasing accumulation of capital by the 1% is resulting in a "savings glut" with little prospect of much of a return on any investment, let alone bank deposits. Thus inequality in an of itself can drive asset prices higher leading to even greater inequality - until the next asset price bust in any case. Most recent purchasers of property in ireland have been private wealthy individuals with no need to borrow in any case, or hedge funds with gazillions to spend in search of a big return.
Small businesses and mortgage buyers are still finding it difficult to get bank loans for working capital or home purchase. The banks are still sitting on a lot of money - hence the need for negative interest rates to encourage them to do what a bank should be doing in any case. Index of Frank's Diaries
by Frank Schnittger - Jan 22 3 comments
by Cat - Jan 25 17 comments
by Frank Schnittger - Jan 26
by Oui - Jan 9 21 comments
by Frank Schnittger - Jan 13 28 comments
by gmoke - Jan 20
by Oui - Jan 15 90 comments
by gmoke - Jan 7 13 comments
by Oui - Jan 2720 comments
by Cat - Jan 2517 comments
by Frank Schnittger - Jan 223 comments
by Oui - Jan 219 comments
by Oui - Jan 21
by Oui - Jan 20
by Oui - Jan 1839 comments
by Oui - Jan 1590 comments
by Oui - Jan 144 comments
by Frank Schnittger - Jan 1328 comments
by Oui - Jan 1212 comments
by Oui - Jan 1120 comments
by Oui - Jan 1031 comments
by Oui - Jan 921 comments
by NBBooks - Jan 810 comments
by Oui - Jan 717 comments
by gmoke - Jan 713 comments
by Oui - Jan 68 comments