Economy

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Luxem-bourgeoisie

If you are old enough to remember the booming real estate market back in 2006, you also remember that it was the last year of the U.S. housing bubble. The following year, social mood took a hard dive, the stock market topped and a set of dominoes around the world quickly ushered in a global financial crisis, the biggest one wince the Great Depression. But what if "it's different this time?" Our Head of Global Research shares his thoughts in the new essay.

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