Paul Romer George Akerloff / Economic Underworld Bankruptcy Profit / Milken / Ponzi

15. The truth was, as Paul Romer and George Akerloff noted in Looting: The Economic Underworld of Bankruptcy for Profit, Milken just cheated. He ran an economy-wide Ponzi scheme for fifteen years until it crashed in the late 1980s.

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Paul Romer George Akerloff / Economic Underworld Bankruptcy Profit / Milken / Ponzi

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Finance

Looks like China's Great Ball of Money is rolling into stocks: - CSI 300 up more than 10% over the past week - State media is filled with the importance of encouraging a 'healthy' bull market in stocks after coronavirus. - Trading volume is booming

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Hong Kong national security law may spook socially conscious investors, sparking outflows

Uber to buy Postmates for $2.65 billion: reports

Asia shares climb as China blue chips hit five-year peak

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Let him say it. He is busy being clever by trolling Modi. That’s something a wise leader would leave to Mani Shankar Ayer with an occasional RT keeping himself above the fray to concentrate on his main message to the electorate. In modern politics communication is all.

Heavy rains in southern Japan have left at least 34 people confirmed or presumed dead, including those at a nursing home. Deep floodwaters and the risk of more mudslides hampered search and rescue operations Sunday. More @business : #土砂降り #大雨警報

Chinese stocks continue to run up hard on Monday. Hopefully this has a better ending than the last time.

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