housing bubble (cycles)

 
"as a crisis unfolds"

George Soros, The new paradigm for financial markets, 2008            [ ]
p.82
United Kingdom, Spain, and Australia.

pp.82-83
p.82
the Federal Reserve lowered the federal funds rate to 1 percent and kept it there until June 2004. This allowed a housing bubble to develop in the United States.  Similar bubbles could be observed in other parts of the world, notably the United Kingdom, Spain, and Australia.  
p.82
What sets the United States housing bubble apart from the others is its size and importance for the global economy and the international financial system.  The housing market turned down earlier in Spain than in the United States, but that passed unnoticed, except locally.
pp.82-83
By contrast, U.S. mortgage securities have been widely distributed all over the world with some European, particularly German, institutional holders even more heavily involved than American ones.

   << this biblio (book or codex) has no index >>
   (The new paradigm for financial markets : the credit crisis of 2008 and what it means / George Soros., 1. financial crises──united states., 2. united states──economic policy., 3. united states──economic conditions──21st century., 4. credit──united states., HB3722.S673  2008, 332.0973──dc22, 2008, )  
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Neil Irwin, The Alchemists : three central bankers and a world on fire, 2013

2007   August 9--BNP Paribas
1867   Walter Bagehot
1992   broke the Bank of England
2001   Bank of Japan, ZIRP (zero interest rate policy)
2005   Reghuram Rajan, Hyun Song Shin
2008   Before Asia Opens
2009   Mansion House Dinner
2010   QE2 [Over the next eight months, using newly created dollars, the Fed would buy $600 billion of longer-term debt U.S. Treasury bonds.]

     (Irwin, Neil (2013), The Alchemists, the penguin press, new york, 2013 )
(The Alchemists : three central bankers and a world on fire, Neil Irwin, p.324)
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