I have lived in Auburn, Alabama, for more than three decades and have never seen a Super Sized Construction Crane. Last week, two were erected in the middle of town.
Not only are stock markets near all time highs, the amount of margin debt is also at all time highs. Margin debt is money borrowed to leverage the purchasing power of portfolios.
"In other words, you cannot accurately forecast a recession or financial panic by looking at either the announcement or the completion of the world’s tallest building"
Research is not just the way we add to the body of knowledge left by previous generations, but is also an effective means of engaging and challenging the ideas of mainstream economics.
