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It is true that they paid much more attention to the trade unions because the trade unions were after all speaking for the rights and conditions of working men and women in their employment. ↗
What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price. ↗
