Six Years After the Global Financial Crisis, What Have We Learned?

Six Years After the Global Financial Crisis, What Have We Learned?

Posted: 18 Jul 2014 02:12 AM PDT

Yves here. This post looks at how little has been done in the wake of the global financial crisis is instructive because it takes an international view. The Australian writer, Catherine Cashmore, is particularly anxious about the failure to address the usually lucky country's ginormous property bubble, and its not alone in having this problem (cue the UK, China, and Canada). It the US, although we've had a housing "recovery" and some markets are looking frothy, the bigger issues are the squeeze on renters as former homeowners are now leasing and the stock of rentals is tight in some markets (in part due to destruction of homes that would have been rentable in the foreclosure process due to servicer mismanagement and in some markets, due to properties being held off the market, both by servicers and by landlords who are either in the process of rehabbing them or have otherwise not leased them up). And it focuses on the elephant in the room: lousy worker wage growth.http://www.nakedcapitalism.com/2014/07/six-years-global-financial-crisis-learned.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29