Blowing the Whistle on the Mortgage Bubble
<i>"industry insiders were ringing the alarm bells"</i><p>Just as today many economists are ringing the alarm bells: the governments public debt issues (both in U.S., Japan and many countries in the Eurozone) are going to end up <i>very</i> badly.<p>Many central banks (including in the U.S.) have basically become bad banks.  Anyone holding medium and long-term public government debt (like many insurance products) are basically bankrupt because governments are going to default.<p>If you think 2008 was bad, wait until the house of cards collapse.  It shall make 1929 look like a cute event.<p>Some economists are predicting a worlwide GDP drop of as much as 25%.<p>Of course economists that you see on Fox news and CNN like Krugman (sure, lets create a one trillion $ coin, it's a good idea: why not then create 16 of these and be done with our public debt?) either totally lost it or are playing the game that the state asked them to play: propaganda.<p>Capitalism cannot work if the cost of printing money is zero (quantitative easing).<p>Actually I don't think we're living in a capitalistic world.  I think we live in a socialist world bent on confiscating savings (at the benefit of the state) using inflation.  But the system has its limit.<p>And who are you going to prosecute and hold responsible once everything collapses?  The states are basically forcing everyone into buying their junk bonds.<p>Do you really think anyone would buy government bonds seen the current situation?<p>The people responsible for this are very very high up the chain.  They're desperately trying to prevent the house of socialist cards from falling apart.<p>"The problem of socialism is that at one point you run out of other people's money".  And that's where we're arriving now.<p>Of course they're going to pretend that it's not the states that created the state debt but "evil" capitalists.  What a joke : (