R/E/P Community
R/E/P => R/E/P Archives => R/E/P Saloon => Topic started by: MDM, on September 29, 2008, 03:59:25 PM
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Looking at the video which describes the background behind what's happening now, it seems that they make reference to an act which was supposed to make housing 'affordable'.
in typical big Government style, the motivation was supposed to be for the good of people who 'couldn't afford' housing..
all of this without considering that people are poor largely because of inflation and govt. policy (with no inflation families would accumulate wealth through inheritance and everyone would have a home... and without tax money being spent abroad and to enrich wall street there would be more money being spent on the street).
Well, guess what? here in Italy we have the same problem! a housing bubble due to very low interest rates.
the market is almost completely DEAD, because the prices are absurd compared to the average income.
when it started, years ago, Municipal offices turned out building licenses aplenty..
the MEDIA, which in this country is controlled by politicians and big industry was PUSHING home ownership as a 'solution' to investment, given that the banks had made a good effort in ripping people off with the stock market (by advising them to buy into bank-owned failing companies).
this is a sign that it's NOT a USA problem but a GLOBAL BANKING and GLOBAL GOVERNMENT fenomena..
to ME this means that it was choreographed, probably more than a decade ago.. and that the OBJECTIVE goes beyond saving the Government's Fanny..
the OUTCOME of such a huge scale increase in lending is mathematically speaking huge inflation..
if they know the outcome, then they presumably need inflation, or they simply want to make a huge amount of money from the huge creation of extra credit (only the elite few who know where to exploit the situation, in theory).
so I don't think this issue should be addressed by pointing the finger at any handful of politicians.. there's something more global about it all.