Our bubble's bigger than their bubble (free sign up required to view).
Steve Keen writes in the (Australian) Business Spectator
"The Australian housing bubble is categorically larger than the USA's, though in standard bubblology talk, the main reason that it is – that it was driven by far more than pure speculation on prices – is touted as one of the reasons that "Australia is different" and a crash won't happen here.
It’s the sort of youthful hope that keeps many investors sleeping soundly underneath the Southern Cross. But this ‘logic’ is a better fit for astrologers – those other chartists – than property market forecasters."
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