- 06 Oct 2022 21:27
#15249904
https://en.wikipedia.org/wiki/Market_failure
Also, currently:
---
Don't you think that something's severely *wrong* with capitalism when it's situating so much of its economy on *non-productive assets*, like housing -- ?
Look at China's continuing fallout. Look at the current U.S. housing bubble.
If 'bubble' makes you nervous, it's because it's also synonymous with *capitalism*.
late wrote:
This all started when Puff the Magic Fish said immigration was causing rising home prices.
What is beyond comprehension is that this silliness has dragged on for 4 pages. You are kinda adding to the silliness... This isn't market failure, it's bad governance, or to use your language, mismanagement.
https://en.wikipedia.org/wiki/Market_failure
Also, currently:
Energy transition
Aside of inflationary pressures, the 2021/22 energy crisis has also increased the use of coal in energy production worldwide. Coal use in Europe already increased by 14% in 2021, and is expected to rise another 7% in 2022. Soaring natural gas prices have made coal more competitive in many markets, and some nations have resorted to coal as a substitute for potential energy rationing in winter 2022/23. With demand for coal increasing in Asia and elsewhere, global coal consumption is forecast to rise again by 0.7% in 2022 to 8 billion tonnes. Burning coal or petroleum products emits significantly higher amounts of carbon dioxide and air pollutants compared to natural gas. The return to coal slows the transition to greener and more sustainable energy sources. Both the United States and Russia are top exporters of natural gas and coal.[26][27]
Europe has been historically leading with regard to global climate policy, pledging to cut emissions to at least 55% below 1990 levels in the next 8 years. But sanctions on Russia are crushing global supplies of fossil fuels with drastic price increases. Russia's invasion of Ukraine in 2022 risks unravelling decades of hard work to reduce emissions on the European continent. After a long period of optimistic projections on reducing Europe's carbon footprint, governments there aren't keeping anything off the table, including reopening coal-fired power plants or upping oil imports, as well as prolonging the phase-out for nuclear energy.[28]
https://en.wikipedia.org/wiki/2021%E2%8 ... transition
---
late wrote:
But I don't hate calling it a bubble. Money was cheap, and that fuels a number of behaviors, speculation, for example. The money guys have been buying up homes and renting them. They make crap landlords, the only good news in that is that I expect them to take a bath when property values inevitably go down. If we have a recession, the income inequality we have (along with Boomers like me dying) could make the drop precipitous (in some areas).
Anyway, this thread needs to die.
Don't you think that something's severely *wrong* with capitalism when it's situating so much of its economy on *non-productive assets*, like housing -- ?
Look at China's continuing fallout. Look at the current U.S. housing bubble.
If 'bubble' makes you nervous, it's because it's also synonymous with *capitalism*.