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    Will the next bubble burst soon?


    The German share index Dax has reached its highest level in its history these days, and at the same time it is clear that Germany is in a recession. The stockbrokers make profits, large parts of society in the real economy are left out. “Over the past 20 years, stock and real estate prices have risen faster than real economic output,” says a study by consulting firm McKinsey. Real economic growth was “flat” during this period, and social inequality in wealth distribution increased. The experts even give a figure by how much more this “wealth on paper”, as it is called, has increased: it is 160 trillion dollars – or adding all the zeros: 160,000,000,000,000 dollars. In detail, this means that share prices have risen 100 percent faster than the gross domestic product since 2001, the plus for promissory notes is 90 percent and for real estate 33 percent.

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