From the economist:
"IN THE past three years, the total value of residential property in developed economies has increased by an estimated $20 trillion, to over $60 trillion. Granted, that increase is partly explained by the decline in the dollar; still, it is double the $10 trillion by which global share values climbed in the three years to 1999. Is this the biggest financial bubble in history? "
from another site:
Part of the reason for the bubble is there's too much inventory.
"A minority chorus has long argued that the Fed should reverse the easy policy that successively fueled a dot-com boom, a consumer spree and an unprecedented surge in the housing market.”
"Easy Policy"?? This is a bit confusing. As opposed to a difficult policy? Not hard to enforce, you mean?
“‘We borrowed trillions of dollars to remodel our kitchens, buy SUVs and plasma TVs, and there are consequences,’ said Peter Schiff, president of Euro Pacific Capital. ‘We are in serious trouble. The piper has to be paid.’” “The Fed cut…will only delay the inevitable, ‘It will be terribly painful, but it’s therapeutic. It’s like a drug addict going through withdrawal from heroin. It is awful, but it’s what will get us better,’ Schiff argued.”
Sounds right to me.
But seriously, people.
Housing is not a problem, or it sure as the words in front of you shouldn't be.
There's FEMA trailers, extra motor homes and whatnot, and unused and empty properties everywhere... Heck, even cars can somewhat be considered as shelter. Can't cities give out tents and have tent cities or something where there is high homelessness? Just some thoughts from yours truly.
Can't we, globally, figure out a way to put the 200 MILLION human beings without homes inside our Excess Inventory? I admit I have no idea what I'm talking about. It just sounds right. Can you fill bubbles with people?
If people are like bubbles, am I full of hot air, and is someone going to pop me? I'd rather pop of old age. Is everything my fault? My former "friend" who said he was a vampire once said so. Egads. But I don't own a house, car, OR plasma tv. My roommate does.
"IN THE past three years, the total value of residential property in developed economies has increased by an estimated $20 trillion, to over $60 trillion. Granted, that increase is partly explained by the decline in the dollar; still, it is double the $10 trillion by which global share values climbed in the three years to 1999. Is this the biggest financial bubble in history? "
from another site:
Part of the reason for the bubble is there's too much inventory.
"A minority chorus has long argued that the Fed should reverse the easy policy that successively fueled a dot-com boom, a consumer spree and an unprecedented surge in the housing market.”
"Easy Policy"?? This is a bit confusing. As opposed to a difficult policy? Not hard to enforce, you mean?
“‘We borrowed trillions of dollars to remodel our kitchens, buy SUVs and plasma TVs, and there are consequences,’ said Peter Schiff, president of Euro Pacific Capital. ‘We are in serious trouble. The piper has to be paid.’” “The Fed cut…will only delay the inevitable, ‘It will be terribly painful, but it’s therapeutic. It’s like a drug addict going through withdrawal from heroin. It is awful, but it’s what will get us better,’ Schiff argued.”
Sounds right to me.
But seriously, people.
Housing is not a problem, or it sure as the words in front of you shouldn't be.
There's FEMA trailers, extra motor homes and whatnot, and unused and empty properties everywhere... Heck, even cars can somewhat be considered as shelter. Can't cities give out tents and have tent cities or something where there is high homelessness? Just some thoughts from yours truly.
Can't we, globally, figure out a way to put the 200 MILLION human beings without homes inside our Excess Inventory? I admit I have no idea what I'm talking about. It just sounds right. Can you fill bubbles with people?
If people are like bubbles, am I full of hot air, and is someone going to pop me? I'd rather pop of old age. Is everything my fault? My former "friend" who said he was a vampire once said so. Egads. But I don't own a house, car, OR plasma tv. My roommate does.
p.s. that's Britney Spears' malibu mansion, pictured above.
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