The economic environment in the Northern Hemisphere is incredibly contradictory. Stock markets are in meltdown after the collapse of one of the greatest speculative bubbles of all times. This has caused a huge destruction of wealth.
Tuesday, October 15th 2002, 9:25AM
by The Landlord
At the same time restaurants, hotels and retail outlets are bursting at the seams as consumers continue to spend at a hectic pace.
This is totally inconsistent with past experiences, when the loss of wealth through a sharemarket crash has normally led to a sharp reduction in consumer spending.
This article covers concerns with the property markets in NZ as well as the UK and USA
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