Housing bubbles in Sweden and Germany and the over-reliance on monetary policy

Today's commentary
Summary: The central banks in Sweden and Germany are concerned about overheating economies as the European sovereign debt crisis has led to a net inflow of investment into their housing sectors. If one looks at European economic policy, these bubbles are the natural outgrowth of a continued over-reliance on monetary policy in economic orthodoxy. More bubbles will follow.

Here's what is happening on the ground. In Germany, the Deutsche Bundesbank has issued a formal warning...

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