Instead of using that dividend to modernize their economies and make themselves more competitive and productive, they went on real estate or consumption binges that have badly weakened either their banks or national balance sheets.
The so-called periphery countries, Spain and Ireland foremost among them, enjoyed real estate, investment and consumption booms that made them less competitive, while Germany, weighed down by the cost of reunification, engaged in far-reaching labour market and other structural reforms that made it more competitive.
Not incidentally, she's completing a first-novel a take-no-prisoners rampage through the world ofirst-novel aw York City real estate and conspicuous consumption.
The new proposal would not raise income tax but increase consumption and estate taxes on the wealthy.
They can lend to fund investments or they can lend to fund real estate purchases and other consumption.
So, a wish for 2014 is for balance: a recognition among business and political leaders that economic growth is not an unalloyed good if it repeats the historical errors of stoking debt, consumption and estate agents' fees.
We propose to explain urban economic growth in terms of real estate investment and private consumption as a function of commodity exports, wages and financial liquidity by employing "Dutch disease" and the "secondary circuit" of capital as theoretical references.
Miller cited Trump, not because of his attitude to Obamacare or sharia law, but because the real-estate mogul's conspicuous consumption exemplified the "bitches and riches" lifestyle to which Mac himself aspires.
Consumption of real estate was distributed over the loan period, as instalments on a loan are included in non-health care consumption.
The estate's total 2006 power consumption was almost 221,000 kilowatt-hours.
