Blowing the Whistle on the Mortgage Bubble
"industry insiders were ringing the alarm bells"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 very badly.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.If you think 2008 was bad, wait until the house of cards collapse.  It shall make 1929 look like a cute event.Some economists are predicting a worlwide GDP drop of as much as 25%.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.Capitalism cannot work if the cost of printing money is zero (quantitative easing).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.And who are you going to prosecute and hold responsible once everything collapses?  The states are basically forcing everyone into buying their junk bonds.Do you really think anyone would buy government bonds seen the current situation?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."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.Of course they're going to pretend that it's not the states that created the state debt but "evil" capitalists.  What a joke : (