Wednesday, October 13

The last great hope. Emerging markets may be the next bubble

Extract . . .

THE internet allowed people to pay lower prices for books but also encouraged them to pay stratospheric prices for shares in lossmaking dotcom companies. During the subprime boom Americans believed the illusion that they could get rich by buying each other’s houses.

http://www.economist.com/node/17155967?story_id=17155967

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