'Battling Capital'

from counter punch.........

"The “masters of the universe” participated in creating a series of asset bubbles during the 1990s that inflated their own oversize bank accounts but did not seem to build much of value in the world. The largest asset bubble that they inflated was the United States itself. Between 1991 and 2005, the market share of the United States relative to its major competitors grew by 4.2 per cent to 42.7 per cent. The real estate sector was the parking lot for this bubble; the creation of a security industry and easy refinance being the air to blow up the housing bubble. By 2004, that bubble was at its biggest – subprime loans accounted for twenty per cent of all new mortgages. It was primed to burst at any point, as it did in 2007"...........READ MORE