Daily commentary: On burst housing bubbles in Spain, the Netherlands and Denmark

Most of the focus these days is on Spain and the periphery - and for good reason. Spain's bond yields are putting it into a potential debt death spiral from which the only escapes are a bailout or default. Moreover, the whole of the periphery are reporting terrible GDP numbers, with Italy predicting a deficit of 0.5% of GDP next year, up from a previous target of 0.1%. That would be called missing one's targets because of a debt deflation. Germany is being dragged in tow as they also released da...


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